Determine the Decision Criterion for Rejecting the Null Hypothesis in the Given

question 121

Multiple Choice

Determine the decision criterion for rejecting the null hypothesis in the given hypothesis test; i.e., describe the values of the test statistic that would result in rejection of the null hypothesis.
-Suppose you wish to test the claim that $\mu _ { \mathrm { d } }$ , the mean value of the differences d for a population of paired data, is greater than 0 . Given a sample of $\mathrm { n } = 15$ and a significance level of $\alpha = 0.01$ , what criterion would be used for rejecting the null hypothesis?

• A) Reject null hypothesis if test statistic \(> 2.602\).
• B) Reject null hypothesis if test statistic \(> 2.977\) or \(< - 2.977\).
• C) Reject null hypothesis if test statistic \(< 2.624\).
• D) Reject null hypothesis if test statistic \(> 2.624\).

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Definitions:

Units Received

Refers to the actual quantity of goods that have been delivered or received, typically in a business context for inventory tracking or accounting purposes.

LIFO Method

An inventory valuation method where the last items added to inventory are the first ones to be used or sold.

Inventory Value

The total cost or market value of all the goods and materials held by a company for the purpose of resale.

Year-End Inventory

The total value of a company's merchandise, goods, and materials on hand at the end of a fiscal year, used to calculate cost of goods sold and profitability.