Question
Let x be a random variable representing dividend yield of bank stocks. We may assume that x has a normal distribution with = 2.1%. A
Let x be a random variable representing dividend yield of bank stocks. We may assume that x has a normal distribution with = 2.1%. A random sample of 10 bank stocks gave the following yields (in percents).
5.7 4.8 6.0 4.9 4.0 3.4 6.5 7.1 5.3 6.1
The sample mean is = 5.38%. Suppose that for the entire stock market, the mean dividend yield is = 4.9%. Do these data indicate that the dividend yield of all bank stocks is higher than 4.9%? Use = 0.01
(a.) Compute the z value of the sample test statistic. (Enter a number. Round your answer to two decimal places.)
(b) Find (or estimate) the P-value. (Enter a number. Round your answer to four decimal places.)
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