Test Hypotheses About a Population Mean with Known Using the Classical

question 65

Multiple Choice

Test Hypotheses about a Population Mean with Known Using the Classical Approach
-You wish to test the claim that $\mu \neq 43$ at a level of significance of $\alpha = 0.05$ and are given sample statistics $\mathrm { n } = 35$ , $\bar { x } = 42.1$ , and $\sigma = 2.7$ . Compute the value of the test statistic. Round your answer to two decimal places.

• A) \(- 1.97\)
• B) \(- 3.12\)
• C) \(- 2.86\)
• D) \(- 1.83\)

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Definitions:

Outstanding Checks

Checks that have been issued by a company but have not yet been cashed or cleared by the bank upon which they are drawn.

Bank Statement

A monthly report from a bank that shows deposits recorded, checks cleared, other debits and credits, and a running bank balance. This same information is available on a daily basis from the bank’s online banking site.

Credit Terms

The conditions under which credit is extended by a seller to a buyer, including payment deadline, discount for early payment, and service charge for late payment.

Annual Basis

Annual basis refers to any financial calculation or performance measurement taken over or normalized for a single year.