You have 2 different savings accounts. For Account A, the simple interest earned after 18 months is $8.33. For Account B, the
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The test statistic z is 2.33, the p-value corresponding to the test statistic z value is 0.0099.
<h3>What is Probability?</h3>Probability is the measure of the likeliness of happening of an event.
The mean of the data is 15.07 centimeters
The standard deviation of the data is 0.26 centimeters.
n = 75
Significance Level ∝ = 0.01
According to the null and alternative hypothesis
Hₐ : ≤15 vs H₁ :
>15
The test statistic z is given by
Z = ( 15.07 -15)/(0.26/√75)
Z = 2.33
The p-value corresponding to z value is 0.0099
as p-value < significance level, therefore the H₁ : >15 is acceptable.
No, significant evidence is not present to tell that the length of bolts is actually greater than the mean value at a significance level of 0.01.
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