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