If I charged 30$ a hair cut the whole year how many times would each customer have to come in to get 17,510$
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Answer:
The P-value is 0.0166.
Step-by-step explanation:
<u>The complete question is:</u> In a one-tail hypothesis test where you reject H0 only in the lower tail, what is the p-value if ZSTAT = -2.13.
We are given that the z-statistics value is -2.13 and we have to find the p-value.
Now, the p-value of the test statistics is given by the following condition;
P-value = P(Z < -2.13) = 1 - P(Z 2.13)
= 1 - 0.9834 = <u>0.0166</u>
Assuming that the level of significance is 0.10 or 10%.
The decision rule for rejecting the null hypothesis based on p-value is given by;
- If the P-value of the test statistics is less than the level of significance, then we have sufficient evidence to reject the null hypothesis.
- If the P-value of the test statistics is more than the level of significance, then we have insufficient evidence to reject the null hypothesis.
Here, the P-value is more than the level of significance as 0.0166 > 0.10, so we have insufficient evidence to reject the null hypothesis, so we fail to reject the null hypothesis.
