Identify the Null Hypothesis, Alternative Hypothesis, Test Statistic, P-Value, Conclusion

question 74

Essay

Identify the null hypothesis, alternative hypothesis, test statistic, P-value, conclusion about the null hypothesis, and final conclusion that addresses the original claim.
-In a clinical study of an allergy drug, 108 of the 202 subjects reported experiencing significant relief from their symptoms. At the 0.01 significance level, test the claim that more than half of all those using the drug experience relief.

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Definitions:

Actual Costs

Expenses that have been incurred, as opposed to estimated or standard costs.

Actual Level

Refers to the current, real-life status or quantity of a specific variable or condition, as opposed to projected or theoretical levels.

Controlled Costs

Expenses that a company can manage or influence directly.

Static Planning Budget

A budget based on a fixed set of assumptions and output levels, without adjustments for actual activity or performance.