A sample of 11 discount brokers showed a sample mean price charged for a trade o

Question

A sample of 11 discount brokers showed a sample mean price charged for a trade of 100 shares at $50 per share was $35.80. Assume a population standard deviation of $7.90. Test the hypothesis that the mean price charged for a trade of 100 shares at $50 per share is at most $31.00 at =0.1000. (See exercise 44 on page 372 of your textbook for a similar problem.) For the hypothesis stated above Question 1 Question 2 Question 3 What is the test statistic? What is the decision? What is the p-value? Fill in only one of the following statements. -| Fal to Reject- If the Z table is appropriate, P-value If thet table is appropriate KP p-value Click to Grade Your Work

Explanation / Answer

A sample of 11 discount brokers showed a sample mean price charged for a trade of 100 shares at $50 per share was $35.80. Assume a population standard deviation of $7.90. Test the hypothesis that the mean price charged for a trade of 100 shares at $50 per share is at most $31.00 at =0.1000. (See exercise 44 on page 372 of your textbook for a similar problem.) For the hypothesis stated above Question 1 Question 2 Question 3 What is the test statistic? What is the decision? What is the p-value? Fill in only one of the following statements. -| Fal to Reject- If the Z table is appropriate, P-value If thet table is appropriate KP p-value Click to Grade Your Work

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