When testing the whether the managers suspicion that ARC is

When testing the whether the manager\'s suspicion that ARC is less than the target of $157.50 at a 5% level, which of the following statements is correct:

The critical value of t is +1.657

The test value of t is -1.471

The test z value is -1.471

The critical z value is -1.645

None of the above

Solution

Critical Value
The Value of |Z | at LOS 0.05% is -1.645