Suppose that the average student buys 12 books a year. You have a theory that by offering a discount you can increase that number. You run a pilot project by offering the discount to a random sample of 25 students and you find that x = 14 and s = 4.32 State the null and alternative hypotheses Give the first symbol in the expression for Ho What is your conclusion in statistical terms? p-value a so accept Ho p-value a so reject Ho p-value a so fail to reject Ho

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter1: The Role And Method Of Economics
Section: Chapter Questions
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Suppose that the average student buys 12 books a year. You have a theory that by offering a
discount you can increase that number. You run a pilot project by offering the discount to a
random sample of 25 students and you find that x = 14 and s = 4.32
State the null and alternative hypotheses
Give the first symbol in the expression for Ho
Transcribed Image Text:Suppose that the average student buys 12 books a year. You have a theory that by offering a discount you can increase that number. You run a pilot project by offering the discount to a random sample of 25 students and you find that x = 14 and s = 4.32 State the null and alternative hypotheses Give the first symbol in the expression for Ho
What is your conclusion in statistical terms?
p-value <a
so accept Ho
p-value> a
so accept Ho
p-value <a
so fail to reject Ho
p-value> a
so reject Ho
p-value <a
so reject Ho
p-value> a
so fail to reject Ho
Transcribed Image Text:What is your conclusion in statistical terms? p-value <a so accept Ho p-value> a so accept Ho p-value <a so fail to reject Ho p-value> a so reject Ho p-value <a so reject Ho p-value> a so fail to reject Ho
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