Answer:
Option e) 0.10 < P < 0.15
Explanation:
We are given the following in the question:
Population mean, μ = $45,000
Sample mean,
= $44,500
Sample size, n = 20
Alpha, α = 0.05
Sample standard deviation, s = $1,750
First, we design the null and the alternate hypothesis
We use one-tailed(left) t test to perform this hypothesis.
Formula:
Putting all the values, we have
Now, calculating the p-value at degree of freedom 19 and the calculated test statistic,
p-value = 0.108494
Thus,
Option e) 0.10 < P < 0.15