Explore BrainMass

Explore BrainMass

    Hypothesis Testing

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    A recent article in the Wall Street Journal reported that the prime rate for large banks now exceeds 9 percent. A sample of eight small banks in the Midwest revealed the following prime rates (in percent):
    10.1, 9.3, 9.2, 10.2, 9.3, 9.6, 9.4, 8.8

    At the 0.01 significance level, can we conclude that the prime rate for small banks also exceeds 9 percent? Estimate the p-value.

    © BrainMass Inc. brainmass.com June 3, 2020, 6:06 pm ad1c9bdddf

    Solution Summary

    The solution is very easy to follow along and calculates the key statistics. The solution is exactly 1 page long and contains 1 table with all the key statistics. Overall, a good answer.