You Are Given the Following Information Obtained from a Random

question 110

Essay

You are given the following information obtained from a random sample of 4 observations.
You want to determine whether or not the mean of the population from which this sample was taken is significantly different from 48. (Assume the population is normally distributed.)
a.State the null and the alternative hypotheses.
b.Determine the test statistic.
c.Determine the p-value; and at 95% confidence test to determine whether or not the mean of the population is significantly different from 48.

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Definitions:

Scrap Value

The estimated resale value of an asset at the end of its useful life, also known as salvage value.

Units-Of-Production Method

An approach to depreciation that allocates the cost of an asset over its useful life based on its output or usage, rather than the passage of time.

Scrap Value

The estimated resale value of an asset after its useful life is over and it can no longer be used as intended.

Double-Declining-Balance

A method that determines a depreciation amount for the first year that is approximately twice the straight-line rate.