Scott took out a 72 month loan for $35,000 to purchase a new boat. If Scott paid $8,925 in simple interest, what was the interes
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Answer:
Step-by-step explanation:
a. The hypothesis test is one tailed_____ test.
(Because we check whether sample weight is greater than hence one tailed or right tailed)
The test statistic follows a __t___ distribution.(Because only sample std deviation s is known)
The value of the test statistic is___Mean difference/Std error =__
b. df = 66
Reject H0 if t ≥ 1.668
c. The p-value is_____0.059444
d. Using the critical value approach, the null hypothesis is _accepted____, because __t <1.668___ Using the p-value approach, the null hypothesis is__accepted___, because__p value <0.05 our significance level.___ Therefore, you __may___ conclude that the mean weight of the airline's passengers' carry-on items has increased after the implementation of the checked-bag fee.