Andre paid $17,520 for a new car. He will make equal payments each month for 4 years. What will be Andre’s monthly car payment?
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Using the equation of the test statistic, it is found that with an increased sample size, the test statistic would decrease and the p-value would increase.
<h3>How to find the p-value of a test?</h3>
It depends on the test statistic z, as follows.
- For a left-tailed test, it is the area under the normal curve to the left of z, which is the <u>p-value of z</u>.
- For a right-tailed test, it is the area under the normal curve to the right of z, which is <u>1 subtracted by the p-value of z</u>.
- For a two-tailed test, it is the area under the normal curve to the left of -z combined with the area to the right of z, hence it is <u>2 multiplied by 1 subtracted by the p-value of z</u>.
In all cases, a higher test statistic leads to a lower p-value, and vice-versa.
<h3>What is the equation for the test statistic?</h3>
The equation is given by:
The parameters are:
is the sample mean.
is the tested value.
- s is the standard deviation.
- n is the sample size.
From this, it is taken that if the sample size was increased with all other parameters remaining the same, the test statistic would decrease, and the p-value would increase.
You can learn more about p-values at brainly.com/question/26454209