Question

The average cost of owning and operating an automobile is $8121 per 15,000 miles including fixed and variable costs. A random survey of 40 automobile owners revealed an average cost of $8350 with a population standard deviation of $750. Is there sufficient evidence to conclude that the average is greater than $8121? Use α = 0.01.
Perform each of the following steps.
a. State the hypotheses and identify the claim.
b. Find the critical value(s).
c. Compute the test value.
d. Make the decision.
e. Summarize the results.
Use diagrams to show the critical region (or regions), and use the traditional method of hypothesis testing unless otherwise specified.


$1.99
Sales0
Views213
Comments0
  • CreatedSeptember 02, 2015
  • Files Included
Post your question
5000