Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. according to a national study, students spend an a

According to a national study, students spend an average of $100 a month on public...

80.2K

Verified Solution

Question

Accounting

image
According to a national study, students spend an average of $100 a month on public transit with a population standard deviation of $20. You believe students in your school spend more on public transit than the national average. You took a random sample of 64 students and the sample spent an average of $104. Test the hypothesis at 1% significance level. The correct decision is a) reject the null hypothesis and conclude that the average amount spent by students on public transit is significantly different from $100. b) reject the null hypothesis and conclude that the average amount spent by students on public transit is significantly less than $100. c) accept the null hypothesis and conclude that the average amount spent by students on public transit is not significantly different from $100. d) reject the null hypothesis and conclude that the average amount spent by students on public transit is significantly more than $100. e) accept the null hypothesis and conclude that the average amount spent by students on public transit is more than $100

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students