According to J D Power Associates the mean purchase price
According to J.D. Power & Associates, the mean purchase price of a smartphone device (such as an iPhone or Blackberry) in 2008 was $216. In 2009, a random sample of 20 business managers who owned a smartphone device showed a mean purchase price of $209 with a sample standard deviation of $13.
(a) At α = .05, has the mean purchase price decreased? State the hypotheses and decision rule clearly.
(b) Use Excel to find the p-value and interpret it.
Membership TRY NOW
  • Access to 800,000+ Textbook Solutions
  • Ask any question from 24/7 available
  • Live Video Consultation with Tutors
  • 50,000+ Answers by Tutors
Relevant Tutors available to help