Question

how did they come up with 12 for the test value? We want to test that, Ho:- The average annual 401k investment of employees at ABC, Inc. is equal to the average national 401k investment. Vs H1:- The average annual 401k investment of employees at ABC, Inc. is lower than the average national 401k investment. We can take l.o.s 1%,5%.,10%. But we will take 5% l.o.s. because it is neither too low nor too high. 2) a) In the output following value is the P value Sig. (2-tailed): .000 P value = 0.0000 b) P value can be calculated as : P(tn-1 > test value) =P( t0.05,299 > 12) From t table we will get PValue = 0.000 c) We reject Ho if P value < 0.05(L.o.s.) Here P value = 0.000 < 0.05 Therefore We reject Ho.at 5% L.o.s. We may conclude that the average annual 401k investment of employees at ABC, Inc. is lower than the average national 401k investment home / study / math / statistics and probability / statistics and probability questions and answers / employees in your organization have continually expressed interest in learning more about financial ... Question: Employees in your organization have continually expressed interest in learning more about financi... (1 bookmark) Employees in your organization have continually expressed interest in learning more about financial planning for retirement. In response to these requests, your organization’s executive leadership team has asked you to participate in an initiative to help educate employees. Given your experience with research and statistics, you have been asked to research current trends in 401k investments to help inform the initiative. According to your research findings, the average national 401k investment is 12%. For the purpose of this initiative, your goal is to determine how the 401k contributions of the employees in your organization compare to the national average. To accomplish this, you gather information from a single sample of employees (N = 300) in your organization to determine an average annual 401k investment. For this assignment, you will perform statistical hypothesis testing on a single sample of employees in your organization to determine how they compare to the national average. Use the following research hypothesis to guide your efforts: what is H0? ____________ H1: The average annual 401k investment of employees at ABC, Inc. is lower than the average national 401k investment. Assume the following: 1. The sample of annual 401k investment percentages from ABC, Inc. employees was randomly selected. 2. The variable, average annual 401k investment percentage, is measured at the interval-ratio level. 3. The sampling distribution of the mean will be approximately normal (N = 300). Complete each of the sections below. 1) State the Null Hypothesis and Select Alpha: (0.05? why? justify 0.05) __________________ One-Sample Statistics N = 300 Mean: 10.47 Std. Deviation: 5.912 Std. Error Mean: .341 One-Sample Test Test Value = 12 t: -4.480 df: 299 Sig. (2-tailed): .000 Mean Difference: -1.529 95% Confidence Interval of the Difference Lower: -2.2 Upper: -0.86

Answer 1