A One-Sample T Test of H₀:  = 125

question 21

Multiple Choice

A one-sample t test of H₀:  = 125 against H_a:  > 125 is carried out based on sample data from a Normal population.The SRS of size n = 15 produced a mean of = 132.8 and s = 12.6.What is the P-value of the test in this situation?

• A)P = 0.008
• B)P > 0.02
• C)0.02 < P < 0.04
• D)0.01 < P < 0.02
• E)0.02 < P < 0.025

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Definitions:

Upward-Sloping Supply Curve

Illustrates the principle that as the price of a good or service increases, producers are willing and able to supply more of it, reflecting a direct relationship between price and quantity supplied.

Upward-Sloping Supply Curve

A graphical representation showing that as the price of a good increases, producers are willing and able to supply more of it.

Total Surplus

The sum of consumer and producer surplus, representing the total net benefit to society from the production and consumption of goods and services.

Market for Hamburgers

This refers to the economic market in which buyers and sellers engage in the trade of hamburgers, influenced by factors such as price, demand, and competition.