Question

prices of share in Rs.) of a company on the different days in a month were found to be 66, 65, 69, 70, 69, 71, 70, 63, 64 8 68. Examine whetherthe mean price of shares in the month is different from 65. You may use 10% level of significance". The above is a test concerning with?​

Answer 1

Given:

a1 = 66₹

a2 = 65₹

a3 = 69₹

a4 = 70₹

a5 = 69₹

a6 = 71₹

a7 = 70₹

a8 = 63₹

a9 = 64 ₹

a10 = 68₹

mean x =65

To find:

mean x = 65 is correct or not?

Step-by-step explanation:

The mean is the sum of the values divided by the number of values.

 $\displaystyle x = \frac{Sum\ of \ the \ terms }{no \ of \ the \ terms}$

    = $\displaystyle \frac{a_1 + a_2 + a_3 + a_4 + a_5 +a_6+ a_7 +a_8 +a_9 + a_1_0}{10}$

    = $\displaystyle \frac{66 +65+ 69+ 70+ 69+ 71+ 70+ 63+ 64+ 68}{10}$

x = 67.5

The mean price of shares of the month is different from 65.

By using a 10% level of significance the mean price become

67.5 × $\frac{90}{100}$  = 60.65

x = 60.65

∴ This case is a concern with fraud.