Consider the following hypothesis test:H 0: 50H a: > 50A sample of 55 is used and the population standard deviation is 7. Use the critical value approach to state your conclusion for each of the following sample results. Use = .05.With = 52.5, what is the value of the test statistic (to 2 decimals)?Can it be concluded that the population mean is greater than 50?Select Yes No Item 2With = 51, what is the value of the test statistic (to 2 decimals)?Can it be concluded that the population mean is greater than 50?Select Yes No Item 4With = 51.8, what is the value of the test statistic (to 2 decimals)?Can it be concluded that the population mean is greater than 50?

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Answered: With = 52.5, what is the value of the…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Consider the following hypothesis test:

H ₀: 50

H _a: > 50

A sample of 55 is used and the population standard deviation is 7. Use the critical value approach to state your conclusion for each of the following sample results. Use = .05.

With = 52.5, what is the value of the test statistic (to 2 decimals)?

Can it be concluded that the population mean is greater than 50?
Select Yes No Item 2
With = 51, what is the value of the test statistic (to 2 decimals)?

Can it be concluded that the population mean is greater than 50?
Select Yes No Item 4
With = 51.8, what is the value of the test statistic (to 2 decimals)?

Can it be concluded that the population mean is greater than 50?

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