What is the interest rate if a principal of $572 earns $228.80 in interest in four years?
1 answer:
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Answer:
Option A) The null hypothesis should not be rejected.
Step-by-step explanation:
We are given the following in the question:
A one sample test for a proportion is being performed.
Critical Value = 2.33
Test statistic = 1.37
Since the critical value is positive and the calculated test statistic is positive, thus it is a right tailed test for a proportion.
The null and alternate hypothesis can be written as:
Since the calculated test statistic is less than the critical value, we fail to reject the null hypothesis.
We accept the null hypothesis.
Thus, the correct answer is
Option A) The null hypothesis should not be rejected.