I have two questions I'm having difficulty with for my stat's hw.
1.) A random sample of 20 observations produced a sample mean = 92.4 and s = 25.8. What is the value of the standard error of ?
2.) Let the random variable X represent the amount of money carried by a student in class. To determine μ , the mean amount of money carried by a student, an experiment was conducted in class. The class was divided into four groups, and random samples from each group was taken. From Groups 1 and 2, random samples of size n=5 were taken, while from Groups 3 and 4, random samples of size n=10 were taken. Some sample results for the four groups are shown below.GroupAverage112.2025.60314.00462.40Your instructor is interested in testing the following hypothesis about the mean amount of money carried by a student:
H0: μ ≤ 29.05
H1: μ > 29.05
Assume that the amount of money carried by a student follows a Normal distribution, and s2 = 4929.1. Using the average results for Group 2 from the above table, what is the p-value for this test?
any help or pointers would be very appreciated!