TABLE 9-5 A Bank Tests the Null Hypothesis That the Mean Age

question 59

True/False

TABLE 9-5
A bank tests the null hypothesis that the mean age of the bank's mortgage holders is less than or equal to 45 years, versus an alternative that the mean age is greater than 45 years. They take a sample and calculate a p-value of 0.0202.
-Referring to Table 9-5, the null hypothesis would be rejected at a significance level of α = 0.01.

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Definitions:

Random Fashion

Occurrences without a specific pattern, order, or predictable sequence, often used in experimental designs to reduce bias.

Arbitrary Distinction

A differentiation made without a specific basis or reason, often perceived as unfair or irrelevant.

Academic Behavior

Actions and attitudes related to the process of learning in educational settings, such as focusing, participating in classroom activities, and homework completion.

Social Behavior

Actions among individuals within a social species that are motivated by interaction and can include cooperation, aggression, mating, and group dynamics.