Question 3 The CEO of a large financial institution claims that, on average, their clients invest more than £750 000 per year in a portfolio. To test this claim at the 10%. Significance level, if it was found that a sample of 16 clients invested an average of R745 000 in the portfolio over the last year, with a standard deviation of R135 000. Determine the critical value of the test statistic. a) 1.96 b) 2.508 c) 1.645 d) 1.34. e) 1.321

MATLAB: An Introduction with Applications
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Question 3
The CEO of a large
Financial institution claims that,
was found
their clients invest more than R150 000 per year in a
To test this claim at the 10%. Significance level, if it
that a sample of 16 clients invested an average of R145 000 in
the portfolio over the last year, with a standard deviation of
R135000. Determine the critical value of the test statistic.
a) 1.96
b) 2.508
c) 1.645
d) 1.341
e) 1.321
on average,
portfolio.
Transcribed Image Text:Question 3 The CEO of a large Financial institution claims that, was found their clients invest more than R150 000 per year in a To test this claim at the 10%. Significance level, if it that a sample of 16 clients invested an average of R145 000 in the portfolio over the last year, with a standard deviation of R135000. Determine the critical value of the test statistic. a) 1.96 b) 2.508 c) 1.645 d) 1.341 e) 1.321 on average, portfolio.
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