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    Hypothesis testing 5 step approach

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    A bank tests the null hypothesis that the mean age of the bank's mortgage holders is less than or equal to 45, versus an alternative that the mean age is greater than 45. They take a sample and calculate a p-value of 0.1202. What can the bank conclude about the alternative hypothesis? Your answer must be given in the form of a managerial decision

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    A bank tests the null hypothesis that the mean age of the bank's mortgage holders is less than or equal to 45, versus an alternative that the mean age is greater than 45. They take a sample ...

    Solution Summary

    The solution provides step by step method for the calculation of t test statistic . Formula for the calculation and Interpretations of the results are also included.

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