Question

Complete steps 2 through 5 of the hypotheses test for the case study below. The hypotheses for step 1 are provided. Give the value of p rounded to the nearest ten-thousandth (to four decimal places). You can type H₀ as Ho.

A researcher contends that the average revenue of all Fortune 500 companies exceeds $24 billion. The average revenue for a sample of n = 50 Fortune 500 companies was x̅ = 31.5 billion dollars. Given that σ = 28.4, test the researcher’s claim at α = 0.10.

1. H₀: μ < 24
   H₁: μ > 24 (claim)

1.state hypothesis and identify claim

2.state test used

3.give p;compare to α

4. reject H_{0 (p} <α) or not (p>α)

5. summarize

Complete steps 2 through 5 of the hypotheses test for the case study below. The hypotheses for step 1 are provided. Give the value of p rounded to the nearest ten-thousandth (to four decimal places). You can type H₀ as Ho.

A book store chain asserts that on average novels are at least 50,000 words in length. The average number of words for a sample of n = 35 novels was x̅ = 49,800 with a standard deviation of s = 714. Test the claim at α = 0.10.

1. H₀: μ > 50000 (claim)
   H₁: μ < 50000

1.state hypothesis and identify claim

2.state test used

3.give p;compare to α

4. reject H_{0 (p} <α) or not (p>α)

5. summarize

Answer 1