Use the Given Information to Find the P-Value

question 14

Multiple Choice

Use the given information to find the P-value. Also, use a 0.05 significance level and state the conclusion about the null
hypothesis (reject the null hypothesis or fail to reject the null hypothesis) .
-The test statistic in a two-tailed test is z = -1.63.

• A) 0.0516; fail to reject the null hypothesis
• B) 0.9484; fail to reject the null hypothesis
• C) 0.1032; fail to reject the null hypothesis
• D) 0.0516; reject the null hypothesis

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Definitions:

Net Sales

Revenue from sales after deducting returns, allowances, and discounts.

Gross Profit Rate

The gross profit rate is the percentage of revenue that exceeds the cost of goods sold, indicating the efficiency of a company in producing and selling its products for a profit.

Net Sales

The amount of sales revenue remaining after deducting returns, allowances for damaged or missing goods, and discounts from the total sales.

Gross Profits

The difference between net sales and the cost of goods sold, indicating the basic profitability of the products or services sold.