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What is the Test Statistic and the P-Value???

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Answer #1

The statistical software output for this problem is:

One sample T summary hypothesis test:
μ : Mean of population
H0 : μ = 62000
HA : μ > 62000

Hypothesis test results:

Mean Sample Mean Std. Err. DF T-Stat P-value
μ 73033 12554.329 44 0.87882036 0.1921

Hence,

Test statistic = 0.88

P - value = 0.192

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