Monica deposits $300 into a savings account that pays a simple interest rate of %4.5. Paul deposits $400 into a savings accou
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Answer:
Now we can calculate the p value with the following probability
If we use the commonly significance level of 0.05 we see that the p value is lower than these values we can conclude that the true mean is different from the value of 465.6 at 5% of significance
Step-by-step explanation:
Data provided
represent the mean score on the standardized memory test
represent the population standard deviation
sample size
represent the value that we want to verify
z would represent the statistic
represent the p value
System of hypothesis
We are interested to check if the memory performance for elderly individuals differs from that of the general population (mean different from 465.6), the system of hypothesis are then:
Null hypothesis:
Alternative hypothesis:
Since we know the population deviation we can use the z statistic from the z test for the true mean:
(1)
Replacing the info given we got:
Now we can calculate the p value with the following probability
If we use the commonly significance level of 0.05 we see that the p value is lower than these values we can conclude that the true mean is different from the value of 465.6 at 5% of significance