The manager of the marketing division of Acme Corporation forecasts an average monthly sales in 1978 of $65,000.In the first seven months of 1978, the average monthly sales were $63,200, with a standard deviation of $500.The management wishes to test the hypothesis H_o that "statistically" the manager was right H_o: $\mu$ = 65,000) against the alternative hypothesis that he was wrong in his forecast H_o: $\mu$ = 65,000), using a two-tail test.Assuming normal distribution of monthly sales, which of the following statements is true? A)H_o is rejected at the 5 percent significance level but accepted at the 1 percent significance level. B)H_o is accepted at both the 5 percent and 1 percent significance levels. C)H_o is accepted at the 5 percent significance level but rejected at the 1 percent significance level. D)H_o is rejected at both the 5 percent and 1 percent significance levels. E)None of the above.

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The Answer of The manager of the marketing division of Acme Corporation forecasts an average monthly sales in 1978 of $65,000.In the first seven months of 1978, the average monthly sales were $63,200, with a standard deviation of $500.The management wishes to test the hypothesis H_o that "statistically" the manager was right H_o: $\mu$ = 65,000) against the alternative hypothesis that he was wrong in his forecast H_o: $\mu$ = 65,000), using a two-tail test.Assuming normal distribution of monthly sales, which of the following statements is true? A)H_o is rejected at the 5 percent significance level but accepted at the 1 percent significance level. B)H_o is accepted at both the 5 percent and 1 percent significance levels. C)H_o is accepted at the 5 percent significance level but rejected at the 1 percent significance level. D)H_o is rejected at both the 5 percent and 1 percent significance levels. E)None of the above.

The Manager of the Marketing Division of Acme Corporation Forecasts μ\muμ

The Manager of the Marketing Division of Acme Corporation Forecasts $\mu$