Solve the Problem. Use the Critical-Value Approach

question 3

Essay

Solve the problem. Use the critical-value approach.
-A hypothesis test for a population mean is to be performed. If the sample size is small (less than 15), under what conditions is it reasonable to use the z-test? If the sample size is moderate (between 15 and 30), under what conditions is it reasonable to use the z-test?

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Definitions:

Business

All profit-seeking activities and enterprises that provide goods and services necessary to an economic system.

Assets

Resources owned by a business or individual that are expected to provide future economic benefit.

Liabilities

Financial obligations or debts that a company or individual owes to others.

GAAP

Generally Accepted Accounting Principles, a collection of commonly followed accounting rules and standards for financial reporting.