Consider the following hypothesis test H \u03bc 20 Ha \u03bc 20A sample of 40 provided a

Consider the following hypothesis test h μ 20 ha μ

This preview shows page 4 - 7 out of 21 pages.

Consider the following hypothesis test:H0: μ > 20Ha: μ < 20A sample of 40 provided a sample mean of 19.5. The population standard deviation is 1.4.a. Compute the value of the test statistic (to 2 decimals). b. What is the p-value (to 3 decimals)?c. Using α = .05, can it be concluded that the population mean is less than 20? d. Using α = .05, what is the critical value for the test statistic?e. State the rejection rule: Reject H0if z is the critical value.f. Using α = .05, can it be concluded that the population mean is less than 20? Icon Key {Exercise 9.17 (Algorithmic)}Wall Street securities firms paid out record year-end bonuses of $ 125,500 per employee for 2005 (Fortune, February 6, 2006). Suppose we would like to take a sample of employees at the Jones & Ryan securities firm to see whether the mean year-end bonus is different from the reported mean of $125,500 for the population.a.State the null and alternative hypotheses you would use to test whether the year-end bonuses paid by Jones & Ryan were different from the population mean. No-1.645greater than Yes 0.012Yes-1.645less than or equal toYes
Image of page 4
b.Suppose a sample of 40 Jones & Ryan employees showed a sample mean year-end bonus of $ 118,000 . Assume a population standard deviation of = $ 29,000 and compute the p-value (to 4 decimals).With = .05 as the level of significance, what is your conclusion?Answer the next three questions using the critical value approach.d.Using = .05, what is the critical value for the test statistic (to 2 decimals)? +/- e.Calculate the test statistic (to 2 decimals). Using = .05, can you conclude that the year-end bonuses paid by Jones & Ryan were different from the population mean? Hide Feedback Partially Correct Solution 0.4427Do not conclude that the year-end bonuses paid by Jones & Ryan were different from the population mean No
Image of page 5
a.State the null and alternative hypotheses you would use to test whether the year-end bonuses paid by Jones & Ryan were different from the population mean.H0: b.Suppose a sample of 40 Jones & Ryan employees showed a sample mean year-end bonus of $ 118,000 . Assume a population standard deviation of = $ 29,000 and compute the p-value (to 4 decimals).
Image of page 6
Image of page 7

You've reached the end of your free preview.

Want to read all 21 pages?

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture