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A. The average household income in the City of Santa Rosa (CA) is reported to...

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Finance

A. The average household income in the City of Santa Rosa (CA) is reported to be $75,000 per year, but the city finance manager believes that the average income is much higher due to the recent relocations of several high-tech firms to the city from the Silicon Valley. The city then commissioned a study using 2,000 residents and found that the average income is $85,000 with a s = $10,000. Let = 1%.

Ho: Mean = m $75,000

H1: Mean = m > $75,000

Whats the critical Z-value for this test?

A). 1.645

B). + 1.96

C). + 1.645

D). 1.96

E). + 2.32

B. The annual rate of the return for ACH Corporation common stock has been:

1998

1999

2000

2001

Return

14%

15%

-10%

14%

Whats the geometric mean of the rate of return for the common stock over the four years?

A). 8.62

B). 7.69

C). 10.22

D). 7.46

E). 6.64

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