Question

Math

Posted 5 months ago

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True or false: A bank tests the null hypothesis that the mean age of the bank's mortgage holders is less than or equal to 45 years, versus an alternative that the mean age is greater than 45 years. They take a sample and calculate a p-value of 0.0202.
The null hypothesis would be rejected at a significance level of a = 0.01.
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Answer from Sia

Posted 5 months ago

Solution by Steps

step 1

Determine the p-value and the significance level (alpha) for the hypothesis test

step 2

Compare the p-value to the significance level: p-value = 0.0202, alpha = 0.01

step 3

Decide whether to reject the null hypothesis: If p-value < alpha, reject the null hypothesis; otherwise, do not reject it

step 4

Since the p-value (0.0202) is greater than alpha (0.01), we do not reject the null hypothesis

[1] Answer

False

Key Concept

Hypothesis Testing and Significance Level

Explanation

In hypothesis testing, if the p-value is less than the significance level (alpha), the null hypothesis is rejected. In this case, the p-value is greater than alpha, so the null hypothesis is not rejected.

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