Consider the e-billing case. The mean and the standard deviation of the sample o
ID: 3149820 • Letter: C
Question
Consider the e-billing case. The mean and the standard deviation of the sample of n = 65 payment times are formula256.mml = 18.1693 and s = 3.9535. Test H0: = 18.4 versus Ha: < 18.4 by setting equal to .01 and using a critical value rule and assume normality of the population. (Round your "t" and "t0.01" answers to 3 decimal places and p-value answer to 4 decimal places. Negative value should be indicated by a minus sign. Use a statistical software package - e.g., Minitab, MegaStat, etc., to derive the p-value.)
Explanation / Answer
T = ( 18.1693 - 18.4 ) / 3.9535 / srqt ( 65)
T = -0.47
for alpha = 0.01 df = 64
critical value : -2.390
since T value is greater than critical value we fail tor eject Ho