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Answer:
a) 0.025 level of significance
The calculated t - value t = 2.88 > 3.58 at 0.025 level of significance
Therefore null hypothesis is rejected
The data indicate that the dividend yield of all Australian bank stocks is higher than 7.9%
Step-by-step explanation:
<u><em>Step(i):-</em></u>
Let 'x' has a normal distribution
Given sample size 'n' =11
Mean of the sample (x⁻) = 9.89% = 0.0989
Standard deviation of the sample (s) = 2.3% = 0.023
Mean of the Population ' μ' = 7.9% = 0.079
<u><em>Step(ii):-</em></u>
<u><em>Null hypothesis:H₀:</em></u>' μ' = 0.079
<u><em>Alternative Hypothesis</em></u> :μ' > 0.079
Test statistic
t = 2.8840
Degrees of freedom
ν = n-1 = 11-1 =10
<em>Level of significance </em>
<u><em>Step(iii):-</em></u>
<em>The calculated t - value t = 2.88 > 3.58 at 0.025 level of significance</em>
<em>Therefore null hypothesis is rejected</em>
<em>The data indicate that the dividend yield of all Australian bank stocks is higher than 7.9%</em>