Question

Use Excel to find the critical value of z for each hypothesis test. (Negative values should be indicated by a minus sign. Round your answers to 3 decimal places.) (a) 2 percent level of significance, two-tailed test. Critical value of z ± (b) 1 percent level of significance, right-tailed test. Critical value of z (c) 5 percent level of significance, left-tailed test. Critical value of z

Answer 1

(a) Given Level of Significant = = 2% = 0.02 and it's a Two Tailed Test

Critical Value of Z:

EXCEL COMMAND:

=NORM.S.INV(0.02/2)

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(b) Given Level of Significant = = 1% = 0.01 and it's a Right Tailed Test

Critical Value of Z:

EXCEL COMMAND:

=NORM.S.INV(1-0.01)

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(c)

Given Level of Significant = = 5% = 0.05 and it's a Left Tailed Test

Critical Value of Z:

EXCEL COMMAND:

=NORM.S.INV(0.05)