A Random Sample of 100 Observations from a Normal Population

question 10

Essay

A random sample of 100 observations from a normal population whose standard deviation is 50 produced a mean of 75.Does this statistic provide sufficient evidence at the 5% level of significance to infer that the population mean is not 80?

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Definitions:

GST Remittance

This is the process of sending the collected Goods and Services Tax to the governing tax authority.

GST Returns

The periodic filing with the taxation authority detailing sales, the GST collected on sales, and the GST paid on purchases.

Correct To The Cent

Adjusting a monetary amount to ensure accuracy up to the smallest currency unit, often referring to rounding to the nearest cent.

Rate Of Return

The increase or decrease in the value of an investment within a defined timeframe, represented as a percent of the investment's initial price.