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

question 3

True/False

Instruction 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 Instruction 9-5,the null hypothesis would be rejected at a significance level of α = 0.05.

Identify the concept and legal implications of different types of contracts.

Recognize the concept of promissory estoppel and its application.

Appreciate the principles underlying the formation of contracts including offer, acceptance, and consideration.

Describe the various elements involved in establishing a contract's legality, capacity, and obligation.

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