How do you know whether to use z-table or t-table to find the p-value? And what

Question

How do you know whether to use z-table or t-table to find the p-value? And what is the p-value?

The accounts of a company show that on average, accounts receivable are $98.70. An auditor checks a random sample of 64 of these accounts, finding a sample mean of $93.74 and standard deviation of $40.56. Based on these findings can you conclude the mean accounts receivable is different from $98.70 at =0.1? Fur the hypolhesis slaled atov. Question 1 What is the decision rule?Fill in only one of the following statements. If the hypothesis is one tailed: Reject ll if If the hypothesis is two tailed: Reject Ho if t stat 1.669 t stat 1.669 or Question2 What is the test statistic 0.978 Question 3 What is the p-value? Fil in only one of the following statenents. If the Z table is appropriate If the t table is appropriate p-value p-value

Explanation / Answer

If in a problem of testing of the population mean, the population standard deviation is not known, then we generally go for a t-test. Hence, we use t-test statistic and the t-table to find the p-value.

The p-value = 2 * min[P(t >= 0.978), P(t <= 0.978)] = 0.3318 = 0.332, where 't' is the t distribution with 63 degrees of freedom.

Related Questions

Navigate

• Browse (All)
• Browse H
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.