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Name: A financial analyst of Woolworths is interested in the average number
Uploaded: 2024-03-20T07:07:12.000Z
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Description: A financial analyst of Woolworths is interested in the average number of months that it takes customers to pay off their account debt. He claims that the average number of months it takes is less than four. He takes a sample of fifty customers and re

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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A financial analyst of Woolworths is interested in the average number of months that it takes customers to pay off their account debt. He claims that the average number of months it takes is less than four. He takes a sample of fifty customers and records the number of months it takes each customer to pay off his debt. The sample delivers a mean of 3.0 and a standard deviation of 3.40. Use α=0.01 to test the hypothesis.

Suppose the test statistic has a value -2.08. Calculate the p-value for the hypothesis for this given value of the test statistic

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