James put $1000 in a 2-year CD paying 7% interest, compounded monthly.
2 answers:
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Answer:
Now we can calculate the p value with the following probability:
The p value is a very low value so then we have enough evidence to reject the null hypothesis and we can conclude that people under the age of forty have vocabularies that are different than those of people over sixty years of age.
Step-by-step explanation:
Information given
represent the mean for sample 1 (younger)
represent the mean for sample 2 (older)
represent the sample standard deviation for 1
represent the sample standard deviation for 2
sample size for the group 2
sample size for the group 2
t would represent the statistic
System of hypothesis
We want to test if that people under the age of forty have vocabularies that are different than those of people over sixty years of age, the system of hypothesis are:
Null hypothesis:
Alternative hypothesis:
The statistic is given by:
(1)
And the degrees of freedom are given by
Replacing the info given we got:
Now we can calculate the p value with the following probability:
The p value is a very low value so then we have enough evidence to reject the null hypothesis and we can conclude that people under the age of forty have vocabularies that are different than those of people over sixty years of age.