Test Hypotheses About a Population Mean with Known Using P-Values $\alpha = 0.01$

question 119

Multiple Choice

Test Hypotheses about a Population Mean with Known Using P-values
-Suppose you are using $\alpha = 0.01$ to test the claim that $\mu \leq 47$ using a P-value. You are given the sample statistics $\mathrm { n } = 40 , \overline { \mathrm { x } } = 48.8$ , and $\sigma = 4.3$ . Find the $\mathrm { P }$ -value.

• A) \(0.0040\)
• B) \(0.9960\)
• C) \(0.0211\)
• D) \(0.1030\)

---

Definitions:

Demand For Money

The desire to hold cash or liquid assets instead of investing or spending, influenced by interest rates, financial uncertainty, and economic activity.

Aggregate Demand

The full scale of demand for goods and services in an economy, specified by a common price level across a particular timeframe.

Price Level

The average of current prices across the entire spectrum of goods and services produced in the economy, serving as an indicator of inflation or deflation.

Equilibrium Real GDP

The level of Gross Domestic Product where aggregate supply equals aggregate demand, adjusted for inflation.