Use the Following to Answer Questions : in a Hypothesis

question 57

Short Answer

Use the following to answer questions : In a hypothesis test with hypotheses H₀ : μ=90 and H₁ : μ ≠ 90 , a random sample of 103 elements selected from the population produced a mean of 94.3. Assume that σ = 22.1, and that the test is to be made at the 5% significance level.
-What is the p-value for this hypothesis test,rounded to four decimal places?

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Definitions:

Monopoly

A firm that is the single seller in its market. Monopolies have market power because they produce a product or service without close substitutes, they have no rivals, and barriers to entry prevent other firms from entering the industry.

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A social media platform where users post and interact with messages known as tweets.

YouTube

A video-sharing platform that allows users to upload, view, share, and comment on videos.

Monopoly Profits

Profits that a company earns when it is the sole supplier of a product or service without any close substitutes, allowing it to control market prices.