Write the Word or Phrase That Best Completes Each Statement $\alpha = 0.05$

question 13

Short Answer

Write the word or phrase that best completes each statement or answers the question.
-A college dean believes that the median hours spent studying by full time students is at least 14 hours per week. In a random sample of 100 students, 62 studied more than 14 hours, 10 studied exactly 14 hours and the rest studied less than 14 hours. Test the researcher's hypothesis. Use $\alpha = 0.05$ .

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Definitions:

Expansions

Phases in the business cycle where the economy is growing and real GDP is increasing.

Recessions

Phases of short-term economic downturn characterized by decreased commerce and manufacturing, typically marked by a reduction in Gross Domestic Product (GDP) for two consecutive quarters.

Interest Rates

The cost of borrowing or the reward for saving, often expressed as a percentage of the principal amount per annum.

Factories

Large buildings or complexes where goods are manufactured or assembled predominantly by machines and workers.