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1. You are running a one-sided test of H0: μ = μ0, where q is the appropriate quantile/critical bound. (Note: q may be positive or negative, depending on the test.) Do you reject H0 if H1: μ > μ0 and t > q?
2. You are running a one-sided test of H0: μ = μ0, where q is the appropriate quantile/critical bound. (Note: q may be positive or negative, depending on the test.) Do you reject H0 if H1: μ > μ0 and t < q?
3. You are running a one-sided test of H0: μ = μ0, where q is the appropriate quantile/critical bound. (Note: q may be positive or negative, depending on the test.) Do you reject H0 if H1: μ < μ0 and t > q?
4. You are running a one-sided test of H0: μ = μ0, where q is the appropriate quantile/critical bound. (Note: q may be positive or negative, depending on the test.) Do you reject H0 if H1: μ < μ0 and t < q?
At the 5% level of significance, would we reject the null hypothesis that the mean breaking load is 510 pounds or more?
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A contractor is considering a sale that promises a profit of $37,000 with a probability of 0.7 or a loss of (due to bad weather and such) of $18,000 with a probability of 0.3. What is the expected profit?
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