Please help with this question: Company A sells licenses for new office management system, and advertises that businesse
Posted: Tue Apr 26, 2022 6:24 pm
Please help with this question:
Company A sells licenses for new office management system, and
advertises that businesses using the product and service will
obtain, on average during the first year, a yield exceeding 7.7% on
their initial investments. A random sample of 36 of these
businesses produced the information on yields, averaging 8.4% with
a standard deviation of 1.486% for the first year of operation. The
analyst intended to use the data to test if there is sufficient
evidence to support the advertiser’s claim.What will be the p-value
of the test against appropriate alternative?Assume that the
distribution of yield is normal.
Company A sells licenses for new office management system, and
advertises that businesses using the product and service will
obtain, on average during the first year, a yield exceeding 7.7% on
their initial investments. A random sample of 36 of these
businesses produced the information on yields, averaging 8.4% with
a standard deviation of 1.486% for the first year of operation. The
analyst intended to use the data to test if there is sufficient
evidence to support the advertiser’s claim.What will be the p-value
of the test against appropriate alternative?Assume that the
distribution of yield is normal.