Suppose you are testing the following hypotheses: H0: > 4000 Ha: < 4000 Sample size is 16. The


Suppose you are testing the following hypotheses: H0: μ > 4000 Ha: μ < 4000 Sample size is 16. The sample mean is 3920 and the sample standard deviation is 200. The significance level is .01. Assume that the values in the population are normally distributed.
a. Compute the sample test statistic, t stat.
b. With the help of a statistical calculator or a statistical software package, determine the appropriate p value here and use it to conduct the test. (If you are using Excel, use the statistical function T. DIST to produce the appropriate p value.)
c. Based on your work in parts a and b, should you reject the null hypothesis? Explain.

This problem has been solved!

Do you need an answer to a question different from the above? Ask your question!

Step by Step Answer:

Related Book For  answer-question

Understanding Business Statistics

ISBN: 978-1118145258

1st edition

Authors: Stacey Jones, Tim Bergquist, Ned Freed

View Solution
Create a free account to access the answer
Cannot find your solution?
Post a FREE question now and get an answer within minutes. * Average response time.
Question Posted: July 16, 2015 17:20:16