1. Write down the null hypothesis.

2. H₀: μ = 0.02

3. H_A: μ = 0.02

4. Write down the alternative hypothesis.

5. Explain why you chose your hypotheses as such.

6. Do a hypothesis test of your data at the α = 2% level of significance for the population mean by carrying out the following six steps:

7. Write down the degrees of freedom, n-1.

i. If it is left-tailed test, what is the critical value, -t_0.02?

ii. If it is right-tailed test, what is the critical value, t_0.02?

iii. If it is two-tailed test, what are the two critical values, ±t_0.01?

8. Write down the test statistic, t₀.

9. Write down the P-value.

10. Write down the sample size.

11. Write down the sample mean and sample standard deviation.

12. Use the classical method to reach your conclusion on whether or not to accept or reject the null hypothesis. Be sure to explain how you reached your conclusion.

13. Use the P-value to reach your conclusion on whether or not to accept or reject the null hypothesis. Be sure to explain how you reached your conclusion.

14. Does the conclusion make sense to you? Why, or why not?