The Next Questions Are Based on the Following Information

question 56

Multiple Choice

The Next Questions Are Based On The Following Information:
A professor claims that the average score on a recent exam was 83.Suppose you want to test whether the professor's statement is correct.Assume that the test scores are normally distributed.You ask some people in class how they did,and record the following scores: 82,77,85,76,81,91,70,and 82.
-What are the null and alternative hypotheses?

• A)H₀ : μ = 83 and H₁ : μ > 83
• B)H₀ : μ = 83 and H₁ : μ < 83
• C)H₀ : μ = 83 and H₁ : μ ≠ 83
• D)H₀ : μ > 83 and H₁ : μ ≤ 83

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Definitions:

Canadian Dollars

The currency of Canada, symbolized as CAD and denoted by the sign $.

Pesos

The national currency of several countries in Latin America as well as the Philippines.

Law of One Price

The law of one price posits that in efficient markets, identical goods should have only one price, accounting for transportation costs and after tax adjustments.

Exchange Rate

The value of one currency for the purpose of conversion to another, indicating how much of one currency can be exchanged for another.