For Exercises 14 and 15, perform the following steps:
State the hypotheses and the rejection rule for the -value method.
Calculate .
Find the -value. Draw the standard normal curve, with and the -value indicated on it.
State the conclusion and the interpretation.
Question
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14. We are interested in testing at level of significance whether the population mean differs from 500. A random sample of size 100 is taken, with a mean of 520. Assume .