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Interpret the statistical results in managerial (real-world) terms and assess their practical importance

Interpret the statistical results in managerial (real-world) terms and assess their practical importance Interpret the statistical results in managerial (real-world) terms and assess their practical importance. Since we have rejected H0: μ = 50 in favor of Ha: μ > 50 by setting α equal to .05, we conclude (at an α of .05) that

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Decide whether to reject H0 by using the test statistic value and the critical value

Decide whether to reject H0 by using the test statistic value and the critical value \Decide whether to reject H0 by using the test statistic value and the critical value rule. Since the test statistic value z = 2.20 is greater than the critical value z.05 = 1.645, we can reject H0: μ = 50

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