Need help finding P-Value, My class does not use Excel just a ti-84/83 calculato
ID: 3267504 • Letter: N
Question
Need help finding P-Value, My class does not use Excel just a ti-84/83 calculator and or written formulas
Question:
Suppose a mutual fund qualifies as having moderate risk if the standard deviation of its monthly rate of return is less than 3%. A mutual-fund rating agency randomly selects 24 months and determines the rate of return for a certain fund. The standard deviation of the rate of return is computed to be 2.84%. Is there sufficient evidence to conclude that the fund has moderate risk at the =0.05 level of significance? A normal probability plot indicates that the monthly rates of return are normally distributed.
What are the correct hypotheses for this test?
The null hypothesis is H0: =0.03.
alternative hypothesis is H1: < 0.03
Calculate the value of the test statistic.
X2 = 20.612 ( rounded to three decimal places )
Use technology to determine the P-value for the test statistic.
The P-Value is: ????????
Explanation / Answer
The null hypothesis is H0: =0.03.
Alternative hypothesis is H1: < 0.03
The test statistic is 2=(n1)s2 / 02
X2 = 20.612 ( rounded to three decimal places )
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