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Explain how you found the test statistic and p-value?
Assume that a simple random sample has been solocted from a normally distributed population. Find the test statistic and P-va
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Answer #1

Now , the null and alternatiev hypothesis is ,

H_0:\mu=220000

H_1:\mu>220000

The test is right-tailed test.

Now , df=degrees of freedom=n-1=23-1=22

The test statistic is,

t_{stat}=\frac{\bar{X}-\mu_0}{s/\sqrt{n}}=\frac{226450-220000}{11500/\sqrt{23}}=2.690

The p-value is ,

p-value=P(t_{df}>|t_{stat}|)=P(t_{22}>2.690)=0.0067 ; The Excel function is , =TDIST(2.690,22,1)

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