an auditor wishes to test the assumption that the mean value of all accounts receivable in a given firm is $260.00. She will reject this claim on ly if it is clearly contradicted by the sample mean. the sample deviation of 36 accounts is $43, the sample mean is $250, and the levek if significance is 5%.
a) write out the null and alternative hypotheses.
b)calculate the A test statistic.
c)find the p-value both from A
d)what would be the conclusion of the auditor i.e., reject or not reject? justify answer with p-value
e)what would be the conclusion of the auditor if the level of significance is 1%(i.e., =.01) justify answer.
statistics - PsyDAG, Monday, April 30, 2012 at 11:47am
Ho: mean1 = mean2
Ha: mean1 ≠ mean2
Z = (mean1 - mean2)/standard error (SE) of difference between means
SEdiff = √(SEmean1^2 + SEmean2^2)
SEm = SD/√n
If only one SD is provided, you can use just that to determine SEdiff.
Find table in the back of your statistics text labeled something like "areas under normal distribution" to find the proportion from the Z score.
statistics - Ali, Saturday, October 29, 2016 at 10:34am
245.95 and 274.05