The simple interest on a certain sum of money is 3/8 of the the sum after 6 1/4 years. Find the the rate per cent charged.
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Answer:
Step-by-step explanation:
Given that :
Mean = 7.8
Standard deviation = 0.5
sample size = 30
Sample mean = 7.3 5.4772
The null and the alternative hypothesis is as follows;
The test statistics can be computed as :
The p-value at 0.05 significance level is:
p-value = 1- P( Z < -5.4772)
p value = 0.00001
Decision Rule:
The decision rule is to reject the null hypothesis if p value is less than 0.05
Conclusion:
At the 0.05 significance level, there is sufficient information to reject the null hypothesis. Therefore ,we conclude that college students watch fewer movies a month than high school students.