Does the following provide enough information to warrant feedback? Could someone provide me any feedback? 1) First,
Question:
Does the following provide enough information to warrant feedback? Could someone provide me any feedback?
1) First, state the hypothesis scenario:
H0; = 26,350 H0; > 26,350
2) Second, state the alpha: 0.05
3) Third, calculate the Degrees of Freedom (DF):
This is found by subtracting 1 from the sample size (n). n-1 = 10 - 1 = 9. Therefore, the DF is 9.
4) Fourth, state the decision rule: To find the T critical value in Excel for a one-tailed test, you can use the T.INV.() function, which uses the following syntax: T.INV(probability, deg_freedom) = T.INV(0.05, 9) = -1.8331129.
Therefore, the T Critical is -1.8331129 and if t is greater than -1.83311, reject the hypothesis.
5) Lastly, calculate the test statistics:
x = $32,232.10 = $26,350.00 s = $13,398.613 n = 10
Therefore t = 1.395582. Because 1.396 is greater than -1.8333, rejects the hypothesis.