Hypothesis Testing: You may use either the critical value method or the p-value method The Statistical Abstract of the United States reports that the mean daily number ofshares traded on the New York Stock Exchange in 2010 was 2 billion. Let this value represent the hypothesized population mean, and assume that the population standard deviation equals 0.5 billion shares. Suppose that, in a random sample of 36 days from the present year, the mean daily number of shares traded equals 2.1 billion. We are interested in testing whether the population mean daily number of shares traded differs from 2 billion using level of significance α= 0.05. (Note, you do not have to do all ofthe zeros for the billions, you can just use 2, 2.1, etc.)
Hypothesis Testing: You may use either the critical value method or the p-value method
The Statistical Abstract of the United States reports that the mean daily number ofshares traded on the New York Stock Exchange in 2010 was 2 billion. Let this value represent the hypothesized population mean, and assume that the population standard deviation equals 0.5 billion shares. Suppose that, in a random sample of 36 days from the present year, the mean daily number of shares traded equals 2.1 billion. We are interested in testing whether the population mean daily number of shares traded differs from 2 billion using level of significance α= 0.05. (Note, you do not have to do all ofthe zeros for the billions, you can just use 2, 2.1, etc.)
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