# Homework 2 - Graded Homework 2 You have submitted this...

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What is the relevant point estimate? 856000 What is the value of the test statistic? -6.623558 This test statistic has A t distribution with 68 degrees of freedom A normal distribution A t distribution with 70 degrees of freedom A standard normal distribution A t distribution with 69 degrees of freedom What is the p-value for this test? 3.17755e-09 Allowing for a 5% chance of a Type I error, what is your conclusion for this test? Reject the null hypothesis and conclude that the numbers were misleading Do not reject the null hypothesis and conclude that the numbers were misleading Do not reject the null hypothesis and conclude that the numbers were not misleading Reject the null hypothesis and conclude that the numbers were not misleading Suppose that all of a sudden you find out from your friend, who is in management of a similar franchise, that you can count on the standard deviation of sales being \$28,000. Which steps would you undertake to carry out the same test as above but
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## This note was uploaded on 04/07/2008 for the course ECON 203 taught by Professor Petry during the Spring '08 term at University of Illinois at Urbana–Champaign.

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Homework 2 - Graded Homework 2 You have submitted this...

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