7) You are conducting a study to test a claim that the mean income of regular casino visitors is significantlyless than$50,000. A randomsample of 67 regular casino visitors had a mean income of $47,970. Do the sample data provide convincing evidence to support the claim? Assume is known to be $6,000. Conduct a hypothesis test using a 5% level of significance.Give numeric answers to at least 2 decimal places.

What are the correct hypotheses? (Select the correct symbols and values.)

Based on the hypotheses, find the following:

Test Statistic =

Critical-value =

The correct decision is to:

The correct conclusion would be:

Select an answer

There is not enough evidence to support the claim

There is enough evidence to support the claim

There is enough evidence to reject the claim

There is not enough evidence to reject the claim _____ that the mean income of regular casino visitors is significantlyless than$50,000

8) Match each of the following statements with the terms and values below:

I) If we fail to rejectH0 at=0.04, we must also fail to reject it at

II) The decision when the test statistic falls outside the critical region

III) Failure to reject a false null hypothesis

IIII) If we rejectH0 at=0.03, we must also reject it at

IIIII) RejectingH0:21 when in fact=23

IIIIII) 1 -

IIIIIII) A range of values of a sample statistic that likely contains the population parameter

IIIIIIII) A single statistic that is used to estimate a population parameter

IIIIIIIII) The sampling distribution of the sample mean becomes approximately normal asn becomes large

IIIIIIIIII) (Upper confidence limit - Lower confidence limit)/2

Options:

1. Confidence level
2. =0.02
3. =0.06
4. Confidence interval
5. Central Limit Theorem
6. Type II error
7. Fail to reject H0
8. Margin of Error
9. Point estimate
10. Correct decision