Consider the Following Hypothesis Test

question 132

Short Answer

Consider the following hypothesis test:
Ho: μ ≥ 40
Ha: μ < 40
A sample of 49 provides a sample mean of 38 and a sample standard deviation of 7.
a. Determine the standard error of the mean.
b. Compute the value of the test statistic.
c. Determine the p-value; and at 95% confidence, test the above hypotheses.

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Definitions:

Principle of Parsimony

A principle stating that among competing hypotheses, the one with the fewest assumptions should be selected.

Cyclical Variation

Fluctuations in data series that occur in regular or periodic patterns over time, often related to economic cycles.

Wavelike Pattern

A pattern characterized by cyclic alternations resembling the form of waves, which can occur in various contexts such as data trends or physical phenomena.

Exponential Smoothing

Exponential smoothing is a time series forecasting method for univariate data that applies weighting factors which decrease exponentially over time.