The bottom portion states \"If Z table is appropriate, P Value= ? \"If T table i

Question

The bottom portion states "If Z table is appropriate, P Value= ?

"If T table is appropriate, Blank < P Value < Blank"

I just don't understand how to derive the crit value when DF goes way past 30 in the T table.

Auto Dail-Problem-15(1J.xdsb-Excel Sign in nsert Page Layout FormulasDe Revie View Developer Tell me what you went to do Normal 22 AutoSum , A Normal 2 Copy Format Painter B I Sort & Find & Filter Select Pasle nsert Delete Fornat omatting Table Clear, Clipboard Number 12 13 14 The accounts of a company show that on average, accounts receivable are $89.31. An auditor checks a random 15 sample of 49 of these accounts, finding a sample mean of $84.44 and standard deviation of $40.56. Based on 16 these findings, can you conclude the mean accounts receivable is different from $89.31 at =0.05? 17 21 For the hypothesis stated above. 23 Question1 Wh is the decision rule? FIll in only one of the following statements If the hypothesis is one talled: 28 29 30 If the hypothesis is two tailed: Reject Ho if tstat 2.011 t stat 2.011 [ -0.840 Question 2What is the test statistic? 36 Question 3 What is the p-value? Fill in only one of the following statements. Daily Problem Ready +100% ! re 4: 10/12/2017 3:10 PM

Explanation / Answer

Let' first lay out the hypothesis test :

Ho: Mu = $89.31
Ha: Mu !=$89.31

Now, use Z not t as n is more than 30. It is at 49

1) Reject Ho if Z-stat<-1.96, or Z-stat>1.96

2) The test statistic is (X-mu)/(sig/sqrt(n)) =(89.31-84.44)/(40.56/sqrt(49)) = 0.84

3) P-value is 1-.7995 = .2005

4) Since Z is not beyond the limits mentioned in 1) we conclude that we fail to reject null hypothesis

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