The yield of Australia bank stocks has a normaldistribution with s.d. 0.024. A random sample of 10 Australian bankstocks gave the mean yield 0.0538. For the entire Australia stockmarket, the mean dividend yield is 0.047. Does this indicate thatthe dividend yield of all Australia bank stock is higher than0.047? Let alpha = .01, do a hypothesis test.
a. test statement: null/alternative
b. calculate test statistic.
c. Find the critical value and draw a graph to findthe reject region. Then make your decision.
d. Find the p value and draw a graph to mark the pvalue. Then make your decision.
e. Give your conclusion in a way that non-staticianscan understand.
