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The average monthly cost for electricity at a certain factory is believed to be R10392. When a sample of 24 monthly payments is taken it is found that the average is R10334.0 and the standard deviation is R1288. It is desired to determine whether there is sufficient evidence to conclude that the mean monthly cost of electricity is less than R10392. Use a significance level of 5% and assume the monthly payments are normally distributed. The hypotheses are given as: Ho: μ = 10392 H₁ μ You are required to determine the test statistic and critical value for this test.

The average monthly cost for electricity at a certain factory is believed to be R10392. When a sample of 24 monthly payments is taken it is found that the average is R10334.0 and the standard deviation is R1288. It is desired to determine whether there is sufficient evidence to conclude that the mean monthly cost of electricity is less than R10392. Use a significance level of 5% and assume the monthly payments are normally distributed. The hypotheses are given as: Ho: μ = 10392 H₁ μ You are required to determine the test statistic and critical value for this test.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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How to determine the test statistic and critical value?

The average monthly cost for electricity at a certain factory is believed to be R10392. When a sample of 24 monthly payments is taken it is found that the average is R10334.0 and the standard deviation is R1288. It is desired to determine whether there is sufficient evidence to conclude that the mean monthly cost of electricity is less than R10392. Use a significance level of 5% and assume the monthly payments are normally distributed. The hypotheses are given as: Họ : a = 10392 H₁: p You are required to determine the test statistic and critical value for this test.
Transcribed Image Text:The average monthly cost for electricity at a certain factory is believed to be R10392. When a sample of 24 monthly payments is taken it is found that the average is R10334.0 and the standard deviation is R1288. It is desired to determine whether there is sufficient evidence to conclude that the mean monthly cost of electricity is less than R10392. Use a significance level of 5% and assume the monthly payments are normally distributed. The hypotheses are given as: Họ : a = 10392 H₁: p You are required to determine the test statistic and critical value for this test.
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