Mean vs. Hypothesized Value
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Hypothesis Test: Mean vs. Hypothesized Value
250,000.0000 hypothesized value
214.4538 mean Data
34.7157 std. dev.
6.8083 std. error
26 n
25 df
-36688.37 t
1.0000 p-value (one-tailed, upper)
Team:
Above are the calculations for our project which I performed in Megastat and then manually as well. I am confused about the decision to reject. Our null hypothesis states Ho< $250,000. Using the 25 degrees of freedom and our significance level of .05 the students t-test chart shows the level to be 1.708. This is the part that confuses me. Since this is right sided tail does our decision rule read reject Ho if t < 1.708 or should it read reject if t > 1.708.
I need each of you to verify and approve my calculations. If you do it manually the formula is:
t = sample mean - hypothesized mean = t
standard deviation
sq root of number in sample
then to find the degrees of freedom you use n-1 or number in sample - 1
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Solution Summary
Mean versus hypothesized values are discussed.
Solution Preview
If it is a right tail test, then the critical value is given as: -t(0.05, n-1). ...
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