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The average retirement age in America is 65 years old. Do small business owners retire at an older average age? The data below shows the results of a survey of small business owners who have recently retired. Assume that the distribution of the population is normal. 58, 62, 73, 77, 61, 74, 75, 62, 70, 69, 64, 76, 70, 64, 70, 64 What can be concluded at the the a = 0.05 level of significance level of significance? a. For this study, we should use t-test for a population mean b. The null and alternative hypotheses would be: Но: μν 65 H1: 65 c. The test statistic [ t 2.504 (please show your answer to 3 decimal places.) d. The p-value = 0.0122 X (Please show your answer to 4 decimal places.) II

The average retirement age in America is 65 years old. Do small business owners retire at an older average age? The data below shows the results of a survey of small business owners who have recently retired. Assume that the distribution of the population is normal. 58, 62, 73, 77, 61, 74, 75, 62, 70, 69, 64, 76, 70, 64, 70, 64 What can be concluded at the the a = 0.05 level of significance level of significance? a. For this study, we should use t-test for a population mean b. The null and alternative hypotheses would be: Но: μν 65 H1: 65 c. The test statistic [ t 2.504 (please show your answer to 3 decimal places.) d. The p-value = 0.0122 X (Please show your answer to 4 decimal places.) II

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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Just part C and D (the ones circled in red) 

The average retirement age in America is 65 years old. Do small business owners retire at an older average age? The data below shows the results of a survey of small business owners who have recently retired. Assume that the distribution of the population is normal. 58, 62, 73, 77, 61, 74, 75, 62, 70, 69, 64, 76, 70, 64, 70, 64 What can be concluded at the the a = 0.05 level of significance level of significance? a. For this study, we should use t-test for a population mean b. The null and alternative hypotheses would be: Но: 65 H1: 65 c. The test statistic | t =| 2.504 (please show your answer to 3 decimal places.) d. The p-value = 0.0122 X(Please show your answer to 4 decimal places.) II
Transcribed Image Text:The average retirement age in America is 65 years old. Do small business owners retire at an older average age? The data below shows the results of a survey of small business owners who have recently retired. Assume that the distribution of the population is normal. 58, 62, 73, 77, 61, 74, 75, 62, 70, 69, 64, 76, 70, 64, 70, 64 What can be concluded at the the a = 0.05 level of significance level of significance? a. For this study, we should use t-test for a population mean b. The null and alternative hypotheses would be: Но: 65 H1: 65 c. The test statistic | t =| 2.504 (please show your answer to 3 decimal places.) d. The p-value = 0.0122 X(Please show your answer to 4 decimal places.) II
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