Mario has a remaining balance of $1,300 on his credit card. His credit card has an APR of 20 percent. How much will he pay in in
1 answer:
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Answer:
(1)
t-test: "Is used to compare group means. Is one of the most common tests and is used to determine if the mean is (higher, less or not equal) to an specified value".
And since we are conducting a lower unilateral lest then we expected that the value for the statistic would be negative. And the correct answer would be:
b. must be negative
Step-by-step explanation:
Data given and notation
represent the sample mean
represent the standard deviation for the sample
sample size
represent the value that we want to test
represent the significance level for the hypothesis test.
t would represent the statistic (variable of interest)
represent the p value for the test (variable of interest)
State the null and alternative hypotheses.
We need to conduct a hypothesis in order to determine if the mean is lower than 150, the system of hypothesis would be:
Null hypothesis:
Alternative hypothesis:
We don't know the population deviation, so for this case is better apply a t test to compare the actual mean to the reference value, and the statistic is given by:
(1)
t-test: "Is used to compare group means. Is one of the most common tests and is used to determine if the mean is (higher, less or not equal) to an specified value".
And since we are conducting a lower unilateral lest then we expected that the value for the statistic would be negative. And the correct answer would be:
b. must be negative