Question

II. A survey of CPAs across the United States found that the average net income for sole-proprietor CPAs is $98,500. Because this survey is over two decades old, an accounting analyst wants to test this figure by taking a random sample of 112 sole-proprietor accountants in the United States to determine whether the net income figure has changed or not. It is assumed that the population standard deviation of net incomes for sole-proprietor CPAs is $14,530. 7. Summarize the hypothesis for this test. (what is the hypothesis test?) 8. What is the critical value? 9. Using $\alpha = .05$, What is the critical value? 10. Using the same $\alpha$, report p-value. 11. What is your decision about the test? 12. What is 95% confidence Interval for the test?

          II.
A survey of CPAs across the United States found that the average net income for sole-proprietor CPAs is $98,500. Because this survey is over two decades old, an accounting analyst wants to test this figure by taking a random sample of 112 sole-proprietor accountants in the United States to determine whether the net income figure has changed or not. It is assumed that the population standard deviation of net incomes for sole-proprietor CPAs is $14,530.
7. Summarize the hypothesis for this test. (what is the hypothesis test?)
8. What is the critical value?
9. Using $\alpha = .05$, What is the critical value?
10. Using the same $\alpha$, report p-value.
11. What is your decision about the test?
12. What is 95% confidence Interval for the test?

II.
A survey of CPAs across the United States found that the average net income for sole-proprietor CPAs is 98,500. Because this survey is over two decades old, an accounting analyst wants to test this figure by taking a random sample of 112 sole-proprietor accountants in the United States to determine whether the net income figure has changed or not. It is assumed that the population standard deviation of net incomes for sole-proprietor CPAs is14,530.
7. Summarize the hypothesis for this test. (what is the hypothesis test?)
8. What is the critical value?
9. Using α = .05, What is the critical value?
10. Using the same α, report p-value.
11. What is your decision about the test?
12. What is 95% confidence Interval for the test?

Added by Alex L.

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