Let x be a random variable representing dividend yield of bankstocks. We may assume that x has a normal distribution with σ =2.8%. A random sample of 10 bank stocks gave the following yields(in percents). 5.7 4.8 6.0 4.9 4.0 3.4 6.5 7.1 5.3 6.1
The sample mean is x bar = 5.38%. Suppose that for the entirestock market, the mean dividend yield is μ = 5.0%. Do these dataindicate that the dividend yield of all bank stocks is higher than5.0%? Use α = 0.01.
Compute the z value of the sample test statistic.(Enter a number. Round your answer to two decimalplaces.)
Find (or estimate) the P-value. (Enter a number. Roundyour answer to four decimal places.)
