I need help with p-value approach? Based on the results, use the p-value approach, state the decision about the null hypothesis and state the conclusion about the alternative hypothesis. 99% Lower Variable N Mean StDev SE Mean Bound Z P Price 16 5.516 1.176 0.125 5.225 4.12 0.000 Test of mu = 5 vs > 5 Based on your results, use the p-value approach, state the decision about the null hypothesis and state the conclusion about the alternative hypothesis. Explain how you reached your decision.

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Given `mu=5,sigma=.5,n=16,bar(x)=5.516` . We want to test the claim that `mu>5` at the 99% confidence level `(alpha=.01)` .

(1) `H_0:mu=5`   `H_1:mu>5`

(2) Since `alpha=.01` the critical point is `z_(.01)=2.33`

(3) The test value is `z=(5.516-5)/(.5/sqrt(16))=4.128`

(4) The p-value is found in the standard normal table.(Try to find 4.128 in...

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Given `mu=5,sigma=.5,n=16,bar(x)=5.516` . We want to test the claim that `mu>5` at the 99% confidence level `(alpha=.01)` .

(1) `H_0:mu=5`   `H_1:mu>5`

(2) Since `alpha=.01` the critical point is `z_(.01)=2.33`

(3) The test value is `z=(5.516-5)/(.5/sqrt(16))=4.128`

(4) The p-value is found in the standard normal table.(Try to find 4.128 in the table -- no z score goes that high. Usually there is a note for z<-3.5 and greater than 3.5) Since z>3.5, p=.0001 (My calculator gives me .0000183) Since `p<alpha` we reject the null hypothesis.

(5) There is sufficient evidence to claim with 99% certainty that `mu>5`

 

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