7800 dollars is placed in an account with an annual interest rate of 6.5%. How much will be in the account after 29 years, to th
e nearest cent?
1 answer:
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Using a t-distribution calculator and finding the p-value, the correct option regarding the conclusion is given by:
a) the p-value is 0.02. We reject h0 at the 5% significance level because the p-value 0.02 is less than 0.05.
<h3>What is the relation between the p-value and the conclusion?</h3>It also involves the significance level, as follows.
- If the p-value is less than the significance level, we reject the null hypothesis
.
- If it is more, we do not reject.
In this problem, a t-distribution calculator for a right-tailed with <em>t = 2.15 and 25 - 1 = 24 df</em> is used to find a p-value of 0.02.
It is less than 0.05, hence option a is correct.
More can be learned about p-values at brainly.com/question/26454209