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    Important information about Testing hypotheses of population mean

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    A recent article in theWall 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 .01 significance level, can we conclude that the prime rate for small banks also
    exceeds 9 percent? Estimate the p-value.

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    https://brainmass.com/statistics/hypothesis-testing/important-information-about-testing-hypotheses-of-population-mean-14155

    Solution Summary

    The solution contains detailed explanation of testing whether the population mean is greater than a given value.

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