A website advertises used cars for sale. During September 2018, 12 cars of similar age and of

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A website advertises used cars for sale. During September 2018, 12 cars of similar age and of the same model are for sale. The asking prices for the cars ($AUS) are:

5999, 8900, 7000, 6499, 7500, 7999, 8450, 6500, 7250, 8150,4999, 5600

a. Investigate, at the 10% significance level, whether the median asking price for such cars is $7675.

b. Still using the 10% level of significance, above what value would the median need to be to make the test significant?

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Cambridge International AS & A Level Further Mathematics Coursebook

ISBN: 9781108403375

1st Edition

Authors: Lee Mckelvey, Martin Crozier

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Question Posted: Oct 05, 2021 01:46 AM

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A website advertises used cars for sale. During September 2018, 12 cars of similar age and of

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a 7569 b 9186 This is a test of the Hypothesis that the median asking price for cars in this market ...View the full answer

Cambridge International AS & A Level Further Mathematics Coursebook

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