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The Russell-2000 is a group of small-company stocks. A random sample of 41 of these stocks had a mean price of $32.20 with a
The Russell-2000 is a group of small-company stocks. A random sample of 41 of these stocks had a mean price of $32.20 with a standard deivation of $6.64. A stock market analyst predicted that the mean price of all Russell-2000 stocks would be $30. Can you conclude that the mean price differs from $30? Use the a = 0.03 level. a. State the null and alternative hypotheses. Ho : ? = H = ? b. Find the critical value and sketch the rejection region. Sketch of Rejection Region: + -3 -2 -1 0 1 2 3 -3 -2 -1 0 1 2 3 a -3 -2 -1 0 1 2 3 a Critical value(s): (If there are two critical values, list both values separated by a comma) c. Find the test statistic. d. Find the p-value. e. Decide: Select an answer Ho f. Conclusion: At a = 0.03 significance level, there Select an answer conclude that mean price differs from $30. enough evidence to
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