fred has 15000 in his savings account with an interest rate of 1.8%. assuming he doesn't add or subtract from this amount, find
1 answer:
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Answer: 2.511 lies in the rejection region, so we will reject the null hypothesis.
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Step-by-step explanation:
Since the null and alternate hypothesis are :
Since there is 0.05 level of significance,
So, there will be two tail test:
As we know that
z = -1.96 or z = 1.96
If the test statistic does not fall in the range of -1.96 to 1.96, we will reject the null hypothesis.
So, it becomes,
Since 2.511 lies in the rejection region, so we will reject the null hypothesis.
Hence, People does not seem to be representative of the Pet Food survey respondents.