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Suppose you want to test the null hypothesis that the mean value of the bill in the box is 9 against the alternative that it is less than 9. Assume that you know that the standard deviation of the value of a bill in the box is 7.96. Your decided that you will reject the null if the average value from 5 draws is less than 6. What is the size of your test?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M971322

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