A) What is a null and alternative hypothesis? (2 marks) b) What does the level of significance tell you? (1 marks)
c) How can you identify a two-tailed test? (1 marks)
d) Briefly explain the difference between a two-tailed and a one-tailed test
(2 marks)
e) Briefly explain when the z-distribution and t-distribution are used to
perform a test of hypothesis (2 marks)
f) There are two types of errors that can occur in hypothesis testing,
identify the two types of errors (2 marks)

For a multistate lottery, the following probability distribution represents the cash prizes of the lottery with their corresponding probabilities. complete parts (a) through (c) below. x (cash prize, $) p(x) grand prizegrand prize 0.000000008860.00000000886 200,000 0.000000390.00000039 10,000 0.0000016950.000001695 100 0.0001582930.000158293 7 0.0039114060.003911406 4 0.0080465690.008046569 3 0.012865710.01286571 0 0.975015928140.97501592814 (a) if the grand prize is $13 comma 000 comma 00013,000,000, find and interpret the expected cash prize. if a ticket costs $1, what is your expected profit from one ticket? the expected cash prize is $nothing.

Down under products, ltd., of australia has budgeted sales of its popular boomerang for the next four months as follows: unit salesapril 74,000may 85,000june 114,000july 92,000the company is now in the process of preparing a production budget for the second quarter. past experience has shown that end-of-month inventory levels must equal 10% of the following month’s unit sales. the inventory at the end of march was 7,400 units. required: prepare a production budget by month and in total, for the second quarter.

Abank has $132,000 in excess reserves and the required reserve ratio is 11 percent. this means the bank could have in checkable deposit liabilities and in (total) reserves.