Suppose $7,000 is deposited in an account paying 2% interest per year compounded monthly. Find the amount in the account after 2
1 answer:
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Considering the situation described, we have that:
- The appropriate null hypotheses is
.
- The appropriate alternative hypotheses is
.
At the null hypotheses, it is tested if the mean has not been reduced, that is, it still is of 5.2 hours, hence:
.
At the alternative hypothesis, it is tested if the mean has been reduced, that is, it is now of less than 5.2 hours, hence:
More can be learned about hypotheses tests at brainly.com/question/26454209