I If the Null Hypothesis Is $\mu$ $\ge$ 200 and the Alternate Hypothesis States That

question 17

Multiple Choice

i. If the null hypothesis is $\mu$ $\ge$ 200 and the alternate hypothesis states that $\mu$ is less than 200, then, a two-tail test is being conducted. ii. For a one-tailed test of hypothesis, the area of rejection is only in one tail of the curve.
iii. As the sample size increases, the curve of the t-distribution approaches the standard normal distribution

• A) (i), (ii), and (iii) are all correct statements.
• B) (i) is a correct statement but not (ii) or (iii).
• C) (i) and (iii) are correct statements but not (ii).
• D) (ii) and (iii) are correct statements but not (i).
• E) (i), (ii), and (iii) are all false statements.

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Definitions:

Collection Float

The time period between when a check is deposited in a bank and when the amount is available in the account, affecting cash flow management.

Interest Rate

The rate at which interest is imposed on a loan for the borrower, often expressed as an annual percentage of the outstanding loan.

Average Daily Float

The average amount of uncollected funds represented by checks in the process of clearing.

Collection Delay

The time lag between when a sale is made or service rendered and when the payment is actually received.