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:

Fair Value

The estimated market price of an asset or liability, reflecting what a willing buyer would pay a willing seller in an arm's length transaction.

Useful Life

Useful Life is the estimated period that an asset is expected to be productive or provide benefits to a business, determining its depreciation or amortization schedules.

Goodwill Recognition

The process of accounting for the excess of purchase price over the fair value of identifiable assets and liabilities of an acquired entity.

US GAAP

United States Generally Accepted Accounting Principles, the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC).