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Let x be a random variable representing dividend yield of bank stocks. We may assume that x has a normal distribution with=2.2%.A random sample of

Letxbe a random variable representing dividend yield of bank stocks. We may assume thatxhas a normal distribution with=2.2%.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 isx= 5.38%. Suppose that for the entire stock market, the mean dividend yield is=4.6%. Do these data indicate that the dividend yield of all bank stocks is higher than4.6%? Use=0.01. (a) What is the level of significance? b) What is the value of the sample test statistic? (Round your answer to two decimal places.) (c) Find (or estimate) theP-value. (Round your answer to four decimal places.)

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