Jane has just begun her new job in the sales force of a very competitive company. In a sample of 32 sales calls it was found that she closed the contract for an average value of 94.67 dollars with a standard deviation of 18.80 dollars. What is the test statistic to test the hypothesis that the population mean is at least 90.92 dollars against the alternative that the population mean is less than 90.92 dollars?

Jane has just begun her new job in the sales force of a very competitive company. In a sample of 32 sales calls it was found that she closed the contract for an average value of 94.67 dollars with a standard deviation of 18.80 dollars. What is the test statistic to test the hypothesis that the population mean is at least 90.92 dollars against the alternative that the population mean is less than 90.92 dollars?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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