SCENARIO 9-5 A Bank Tests the Null Hypothesis That the Mean Age

question 124

True/False

SCENARIO 9-5
A bank tests the null hypothesis that the mean age of the bank's mortgage holders is less than or equal to 45 years,versus an alternative that the mean age is greater than 45 years.They take a sample and calculate a p-value of 0.0202.
-Referring to Scenario 9-5,the null hypothesis would be rejected at a significance level of α = 0.01.

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Definitions:

Regression Toward The Mean

The statistical phenomenon where extreme measurements or data points tend to be closer to the average upon subsequent measurements or in different samples.

Bowling Average

A statistical measure in the sport of bowling, calculated by dividing the total number of pins knocked down by the total number of games played.

Three-game Average

A statistical calculation used to determine a player's average performance over three games, often applied in sports to assess recent performance.

Unusually Low

Pertains to a value or level that is significantly below what is considered normal or typical.