Using the Critical Value Approach,conduct the Following Hypothesis Test at the 1

question 88

Essay

Using the critical value approach,conduct the following hypothesis test at the 1% significance level:

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Definitions:

Bayes' Law

A theorem in probability theory used to update the probability of a hypothesis as more evidence or information becomes available.

Posterior Probability

The probability of an event or hypothesis after taking into consideration new evidence or information.

Prior Probabilities

The probabilities that are assigned to events or hypotheses before any relevant evidence is taken into account, used in Bayesian analysis.

Likelihood Probabilities

Measures of how probable different outcomes are, given a specific set of observed data, in statistical analysis.