# 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.

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.

$2.49