Question

please answer this question subject about Business Statistics thanks.

Section 5: One (OK, two) last question(s) 18. Before you answer this question, please re-read the explanation of objective 1 in the accompanying document, Introduction to Hypothesis Testing" and the first 2 pages of chapter 10. We are testing the hypothesis that the average family income in Anne Arundel County is more than $50,000. We take a random sample of 100 families (using good sampling technique so that the sample is valid) and find that the mean of the sample is $52,982 with a standard deviation of $4,356. We set alpha at 0.05. Our decision is "at the.05 level, reject the null hypothesis." Ho: μ 50,000; H1: μ > 50,000 a. Based only on the decision as cited above, if you were to run the experiment again, what is the Level of significance: 0.05 Test statistic: probability of reaching a different decision? Explain what the result of this test tells you about the sample mean, how it reflects the population mean, and your certainty about your conclusiorn b.

Answer 1

reaching ferent decision is 0.95 Jiven bat it is tne of cours 2) he null value-f the rer-lation "mean, dnd 払esl is Lo signfiat' nple end since, Tire T r as ket to he - t is alnost Swe lat, he dterraive tplesis is tue Sanple mean is sigif SI3uf i Cam arger Yr4e Shous, sinnificant dispersion incemes m te ea native wiong decision Because there's only 5% rYobablitt f makina anong leeision Pecase there's on ne