The amount of interest accrued on a $7,000 loan with 6% interest after t years.
1 answer:
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Answer:
Null hypothesis:
Alternative hypothesis:
(1)
t-test: "Is used to compare group means. Is one of the most common tests and is used to determine if the mean is (higher, less or not equal) to an specified value".
For this case the value of represent the parameter associated to the population (True average of cofee temperature)
Step-by-step explanation:
Data given and notation
represent the mean height for the sample
represent the sample standard deviation for the sample
sample size
represent the value that we want to test
represent the significance level for the hypothesis test.
t would represent the statistic (variable of interest)
represent the p value for the test (variable of interest)
State the null and alternative hypotheses.
We need to conduct a hypothesis in order to check if the true mean i equal to 70.2, the system of hypothesis would be:
Null hypothesis:
Alternative hypothesis:
If we analyze the size for the sample is < 30 and we don't know the population deviation so is better apply a t test to compare the actual mean to the reference value, and the statistic is given by:
(1)
t-test: "Is used to compare group means. Is one of the most common tests and is used to determine if the mean is (higher, less or not equal) to an specified value".
For this case the value of represent the parameter associated to the population (True average of cofee temperature)