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

question 150

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 bank can conclude that the mean age is greater than 45 at a significance level of α = 0.01.

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Definitions:

Discrete Data

Data that can only take specific values and are countable, often representing categories or counts.

Time Series Data

Data collected or recorded at regular intervals over a period of time, allowing for the analysis of patterns, trends, and forecasting.

Line Chart

A type of chart that displays information as a series of data points connected by straight line segments, commonly used to visualize trends over time.

Stem-And-Leaf Plot

A graphical representation of data where each data point is split into a "stem" (the leading digit(s)) and a "leaf" (the trailing digit).