The Next Questions Are Based on the Following Information

question 18

Essay

The Next Questions Are Based On The Following Information:
An insurance company employs agents on a commission basis.It claims that in their first year,agents will earn a mean commission of at least $42,000 and that the population standard deviation is no more than $6,800.A random sample of nine agents found,for commissions in the first year,
and
The population distribution can be assumed to be normal.
-What are the appropriate null and alternative hypotheses?

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Definitions:

Imports

Goods and services purchased by a country from other countries, which contribute to the nation's supply but require expenditure of domestic currency.

Exports

Goods or services sent from one country to another country for sale or trade.

Excise Tax

A tax on the production, sale, or consumption of a particular good or service.

Ability-To-Pay Principle

A tax principle that suggests taxes should be levied according to an individual's or entity's ability to pay, typically measured by income or wealth.