It Is Believed That the Median Age of College Students

question 77

Essay

It is believed that the median age of college students is 21 years. A sample of 80 college students is taken. Thirty of the students were under 21, 45 of the students were over 21, and 10 were 21 years old.
a.State the null and alternative hypotheses.
b.Test the null hypothesis at the 1% level of significance.

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Definitions:

Liquidator's Remuneration

The compensation paid to a liquidator for their services in administrating the process of winding up a company's affairs and distributing its assets.

Liquidation Account

An account created to collect transactions and balances during the process of liquidating or winding up a company.

Liquidator's Distribution

The process of distributing assets held by a company under liquidation to its creditors and shareholders.

Shareholders' Distribution

The allocation of earnings declared by a corporation to its shareholders, usually in the form of dividends.