Suppose That 10 Grades Are Drawn from a Normal Population

question 12

Essay

Suppose that 10 grades are drawn from a normal population whose standard deviation is 15.The observations are:
90 54 78 66 48 72 66 42 60 50
At 99% confidence,you want to determine whether the mean of the population from which this sample was taken is greater than 60.
a.State the null and alternative hypotheses.
b.Compute the value of the test statistic.
c.Compute the p-value.
d.Interpret the results.

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Definitions:

Coupon Bond

A type of bond that pays the holder a regular interest rate (or coupon) in addition to the principal amount at maturity.

Yield To Maturity

The total return anticipated on a bond if the bond is held until its maturity date.

Par Value

The face value of a bond or the stated value of a stock, set at the time of issuance and often used in determining its worth at maturity.

Coupon Rate

The interest rate that an issuer of a bond promises to pay annually or semi-annually to the holder.