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:

Discount on Bonds Payable

The variance between the face value of a bond and the amount it is sold for when the sale price is beneath its face value.

Date of Issue

The date on which a financial instrument, such as a bond or stock, is made available for sale or issued.

Redemption

The process of paying off or buying back securities or debts by the issuer before their maturity date, often at a predetermined price.

Carrying Value

The book value of an asset, reflecting its original cost minus any depreciation, amortization, or impairment charges.