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To investigate factors motivating small firms to export their products, a researcher conducted a survey of 46 exporting firms. Firm CEOs were asked to respond

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To investigate factors motivating small firms to export their products, a researcher conducted a survey of 46 exporting firms. Firm CEOs were asked to respond to the statement "Management believes that the firm can achieve economies of scale by exporting." on a scale of 1 (strongly disagree) to 5 (strongly agree). The survey results showed that X = 3.87 and S = 0.96. The researcher hypothesized that if the true mean scale score exceeds 3.5, then CEOs at all Hong Kong small firms generally agree with the statement. (a) Conduct the appropriate test by critical value approach and using a = 0.05. State your conclusion in the words of the problem. (10 marks) (b) How large is the p-value? (2 marks) (c) Using the collected data, the researcher constructed a 95% confidence interval for the population mean scale score. Base on the confidence interval, he decided to reject the null hypothesis in part (a). Do you agree with his decision? Explain you answer without any computation. (4 marks)

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