Park University Advanced Business Statistics Discussion

1.A sample of 64 observations is selected from a normal population. The sample mean is 215, and the population standard deviation is 15. Conduct the following test of hypothesis using the 0.025 significance level.

H₀: μ ≥ 220

H₁: μ < 220

Is this a one- or two-tailed test?

2.A recent article in Vitality magazine reported that the mean amount of leisure time per week for American men is 40.0 hours. You believe this figure is too large and decide to conduct your own test. In a random sample of 60 men, you find that the mean is 37.8 hours of leisure per week and that the standard deviation of the sample is 12.2 hours.

Can you conclude that the information in the article is untrue? Use the 0.05 significance level.

1. What is the decision rule?

b.Compute the value of the test statistic.

c.What is your decision regarding H₀?

Listed below is the annual rate of return (reported in percent) for a sample of 12 taxable mutual funds.


4.63	4.15	4.76	4.70	4.65	4.52	4.70	5.06	4.42	4.51	4.24	4.52

Using the 0.05 significance level, is it reasonable to conclude that the mean rate of return is more than 4.50%?

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