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Basic Question 2 of 3
In an effort to attract the local fishermen to their markets, two competing fish markets in opposite ends of New Bedford, Massachusetts, advertised that they had greater sales volume. Which of the following null hypotheses would show that there is no difference in sales volume between the two fish markets?
B. H0: (μ1 - μ2) ≠ 0
C. H0: μ1 < μ2
A. H0: (μ1 - μ2) = 0
B. H0: (μ1 - μ2) ≠ 0
C. H0: μ1 < μ2
User Contributed Comments 2
| User | Comment |
|---|---|
| Teeto | If I state H0 as in A and do not reject it all I can say that there is no evidence that there is a difference. But I cannot say there is no difference. |
| 22Milito22 | Teeto, I agree with you. In my opinion the right answer should be B. Could someone please clarify? |
I used your notes and passed ... highly recommended!
Lauren
Learning Outcome Statements
construct hypothesis tests and determine their statistical significance, the associated Type I and Type II errors, and power of the test given a significance level
CFA® 2024 Level I Curriculum, Volume 1, Module 8.