Suppose your friend's parents invest $10,000 in an account paying 4% compounded annually. What will the balance be after 9 years
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Answer:
a) It is most appropiate to apply t procedures with this sample because the population standard deviation is unknown. We have to estimate it from the sample standard deviation.
b) There is no enough evidence to claim that disolved oxygen level is below 5 mg/l.
c) As the null hypothesis was not rejected, the only error we could have made is a Type II error.
This Type II error is made when fail to reject the null hypotesis even when the alternative hypothesis is true.
In this context, it would mean that the aquatic life is really at risk (dissolved oxygen levels below 5 mg/l), but because the sample results combined with its size were not giving enough evidence to prove the claim.
Step-by-step explanation:
b) We have to perform a hypothesis test on the mean, at a significance level of 0.05.
The null and alternative hypothesis are:
The sample mean is 4.77 and the sample standard deviation is 0.94.
The sample size is 15, so the degrees of freedom are:
The t-statistic is:
For a t=0.95 and df=14, the P-value is P=0.18.
This P-value is bigger than the significance level, so the null hypothesis is failed to be rejected.
There is no enough evidence to claim that disolved oxygen level is below 5 mg/l.
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