(Answered) Given the following hypothesesnbsph0nbsp mu 400nbsph1nbsp

Finance

Given the following hypotheses:

H₀ : μ = 400

H₁ : μ ≠ 400

A random sample of 12 observations is selected from a normal population. The sample mean was 407 and the sample standard deviation 6. Using the .01 significance level:

a. State the decision rule. (Negative amount should be indicated by a minus sign. Round your answers to 3 decimal places.)

Reject H₀ when the test statistic is (Click to select)

outside

inside

the interval (, ).

b. Compute the value of the test statistic. (Round your answer to 3 decimal places.)

Value of the test statistic

c. What is your decision regarding the null hypothesis? Do not rejectReject

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