A random sample of 80 companies who announced corrections to their balance sheets took a mean time of 8.1 days for the time between balance sheet construction and the complete audit.The standard deviation of these times was 1.3 days.If the claim is that the population mean is greater than 7.5 days,calculate the appropriate test statistic to test the hypotheses.
A)-4.13
B)36.92
C)4.71
D)-4.71
E)4.13

Question

Quizplus · Accepted Answer

The test statistic is calculated using the formula: (sample mean - population mean) / (standard deviation / sqrt(sample size)). Substituting the given values: (8.1 - 7.5) / (1.3 / sqrt(80)) = 4.13.

A Random Sample of 80 Companies Who Announced Corrections to Their