document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1076811>Question 1076811</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Need help finding p-value, thank you! I can't seem to get it right!\r<BR>\n" );
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document.write( "Let x be a random variable representing dividend yield of bank stocks. We may assume that x has a normal distribution with &#963; = 2.8%. A random sample of 10 bank stocks gave the following yields (in percents).<BR>\n" );
document.write( "5.7	4.8	6.0	4.9	4.0	3.4	6.5	7.1	5.3	6.1<BR>\n" );
document.write( "The sample mean is x = 5.38%. Suppose that for the entire stock market, the mean dividend yield is &#956; = 4.2%. Do these data indicate that the dividend yield of all bank stocks is higher than 4.2%? Use &#945; = 0.01.<BR>\n" );
document.write( "(a) What is the level of significance?<BR>\n" );
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document.write( "0.01<BR>\n" );
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document.write( "Correct: Your answer is correct.<BR>\n" );
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document.write( "State the null and alternate hypotheses. Will you use a left-tailed, right-tailed, or two-tailed test?<BR>\n" );
document.write( "H0: &#956; = 4.2%; H1: &#956; &#8800; 4.2%; two-tailed<BR>\n" );
document.write( "H0: &#956; = 4.2%; H1: &#956; < 4.2%; left-tailed    <BR>\n" );
document.write( "H0: &#956; = 4.2%; H1: &#956; > 4.2%; right-tailed<BR>\n" );
document.write( "H0: &#956; > 4.2%; H1: &#956; = 4.2%; right-tailed<BR>\n" );
document.write( "Correct: Your answer is correct.\r<BR>\n" );
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document.write( "(b) What sampling distribution will you use? Explain the rationale for your choice of sampling distribution.<BR>\n" );
document.write( "The standard normal, since we assume that x has a normal distribution with unknown &#963;.<BR>\n" );
document.write( "The standard normal, since we assume that x has a normal distribution with known &#963;.    <BR>\n" );
document.write( "The Student's t, since n is large with unknown &#963;.<BR>\n" );
document.write( "The Student's t, since we assume that x has a normal distribution with known &#963;.<BR>\n" );
document.write( "Correct: Your answer is correct.\r<BR>\n" );
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document.write( "What is the value of the sample test statistic? (Round your answer to two decimal places.)<BR>\n" );
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document.write( "1.33<BR>\n" );
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document.write( "Correct: Your answer is correct.<BR>\n" );
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document.write( "(c) Find (or estimate) the P-value. (Round your answer to four decimal places.)<BR>\n" );
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document.write( ".1065<BR>\n" );
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document.write( "Incorrect: Your answer is incorrect.<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #691438 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=691438\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> What is the value of the sample test statistic? (Round your answer to two decimal places.)\r<BR>\n" );
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document.write( "1.33\r<BR>\n" );
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document.write( "Correct: Your answer is correct.\r<BR>\n" );
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document.write( "(c) Find (or estimate) the P-value. (Round your answer to four decimal places.)\r<BR>\n" );
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document.write( "p-value = P(z > 1.33) = normalcdf(1.33,100) = 0.09176<BR>\n" );
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document.write( "Conclusion::<BR>\n" );
document.write( "Since the p-value is greater than 1%, fail to reject Ho.<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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