need to find the critical value and Id rejection region An e
Solution
Formulating the null and alternative hypotheses,
Ho: u = 22300
Ha: u =/ 22300 [ANSWER, OPTION C]
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As we can see, this is a two tailed test.
Thus, getting the critical t,
df = n - 1 = 9
tcrit = 3.249835542, -3.249835542 [ANSWER, CRITICAL VALUES]
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Thus, we reject Ho is t < -3.249835542 or t > 3.249835542. [ANSWER, REJECTION REGION]
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Additional information:
Getting the test statistic, as
X = sample mean = 21823.7
uo = hypothesized mean = 22300
n = sample size = 10
s = standard deviation = 2627.895569
Thus, t = (X - uo) * sqrt(n) / s = -0.573155519
Also, the p value is
p = 0.580575555
Comparing t and tcrit (or, p and significance level), we FAIL TO REJECT THE NULL HYPOTHESIS.
