A company provides a full range of insurance and financial services. Suppose the company reported the results
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Question:
A company provides a full range of insurance and financial services. Suppose the company reported the results of a survey of 1,167 identity theft victims. The survey shows victims spend an average of 79 hours trying to resolve their cases. If the true average time spent was 79 hours, determine the probability that a test of hypothesis designed to test that the average was less than 85 hours would select the research hypothesis. Use α=0.05 and a standard deviation of 55.
Part 1 The probability that the hypothesis test would select the research hypothesis is entered your response here. (Round to four decimal places as needed.)
Related Book For
Business Statistics A Decision Making Approach
ISBN: 9780133021844
9th Edition
Authors: David F. Groebner, Patrick W. Shannon, Phillip C. Fry
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