SCENARIO 9-5
a Bank Tests the Null Hypothesis That the Mean

question 36

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 $\alpha$ = 0.01.

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Definitions:

Cognitive Therapy

A form of psychotherapy aimed at changing maladaptive thinking patterns to improve emotional regulation and develop personal coping strategies.

Depressed People

Individuals who are experiencing a persistent feeling of sadness, hopelessness, and a lack of interest or pleasure in activities.

External Circumstances

Conditions or factors that occur outside of an individual and can affect one's decisions or actions.

Psychiatrist

A medical doctor specializing in the diagnosis, treatment, and prevention of mental health and emotional disorders, capable of prescribing medication.