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:

Special Order

A customer request for a product or service that is not generally available or outside the business’s normal operations, often requiring special pricing or production considerations.

Capacity

The maximum level of output that a company can sustain to make a product or provide a service under normal conditions.

Activity-Based System

A method in accounting that allocates costs to specific activities based on their use of resources, aimed at providing more accurate cost information.

Non-Volume-Based Costs

Costs that do not vary directly with the volume of production or sales, often encompassing fixed costs like rent or salaries.