00:01
So the hypothesis here are, that either the mean, the population, so the symbol mu, is either equal to the value that they are saying or it is not.
00:12
So the one that has the equal sign is always the new hypothesis and the other one the alternative.
00:21
Then we can find the value for the tested statistics.
00:24
So in this case the value for the tested statistics given by the sample mean minus the value that we have in the hypothesis, divided by the standard deviation, which we know the population standard deviation, so 16 dollars, divided by the square root of the sample size, which is 64.
00:43
So this here will give us this value for the tested statistic.
00:48
Then let us see we should say what, when we reject the new hypothesis.
00:53
So we reject here the new hypothesis, when, and let's say that this is our z0 tested statistic, when the z0 is either greater than the positive critical value or z0 is smaller than the negative critical value.
01:10
So that's when we reject...