Solutions Economics

Your firm's research department has estimated your total revenues to be R(Q)=3,000Q-8{Q^2}

Question: Consider the following hypothesis test:

Ho: µ = 15

Ha: µ ≠ 15

A sample of 50 provided a sample mean of 14.15. The population standard deviation is 3.

a. Compute the value of the test statistic.

b. What is the p value?

d. What is the rejection rule using the critical value? What is your conclusion?

Price: $2.99
See Answer: The answer consists of 2 pages
Deliverable: Word Document


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