Imagine that you have the opportunity to purchase a large piece of land for $100,000, after taking out a loan. You have decided
2 answers:
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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.