In: Statistics and Probability
Solution :
Given that ,
= 60000
= 59500
= 5000
n = 48
The null and alternative hypothesis is ,
H0 : = 60000
Ha : 60000
This is the two tailed test .
Test statistic = z
= ( - ) / / n
= ( 59500 - 60000) / 5000 / 48
= -0.69
The test statistic = -0.69
P - value = 2 * P (Z < -0.69 )
= 2 * 0.2451
= 0.4902
P-value = 0.4902
= 0.05
0.4902 > 0.05
P-value >
Fail to reject the null hypothesis .
There is not sufficient evidence to test the claim .