James borrows $300 at an interest rate of 8% and takes 5 years to pay it off.
2 answers:
You might be interested in
Answer:
a) Yes b) No
Step-by-step explanation:
Given that the p value for a two-sided test of the null hypothesis H0: μ = 10
is 0.06
a)
Hence we accept null hypothesis
This implies that 10 will be within the confidence interval of 95%
b) If confidence level = 90%
So we have to reject null hypothesis.
So we do not have 10 in the confidence interval
The reason is the lower the confidence level, the narrower the confidence interval. In this case, 10 has gone outside the narrower interval hence we get this.