A used car dealer says that the true average price of a two-year-old sedan (in average...
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A used car dealer says that the true average price of a two-year-old sedan (in average condition) is less than $25000. To test the statement, you take a simple random sample of 45 cars and find the sample to have an average of $20900 with a standard deviation of $6500. Test the statement at 1% significance. Round to the fourth. Ho: Select an answer Select an answer HA: Select an answer Select an answer Test Statistic: P-value: Did something significant happen? Select an answer Select the Decision Rule: Select an answer There Select an answer Select an answer enough evidence to conclude Build a 98% confidence interval and decide if you can conclude the same. Use your calculator to do this and round to the nearest dollar. Can we conclude the same as our Hypothesis Test? ? because the true average price of a two-year-old sedan (in average condition) Select an answer A used car dealer says that the true average price of a two-year-old sedan (in average condition) is less than $25000. To test the statement, you take a simple random sample of 45 cars and find the sample to have an average of $20900 with a standard deviation of $6500. Test the statement at 1% significance. Round to the fourth. Ho: Select an answer Select an answer HA: Select an answer Select an answer Test Statistic: P-value: Did something significant happen? Select an answer Select the Decision Rule: Select an answer There Select an answer Select an answer enough evidence to conclude Build a 98% confidence interval and decide if you can conclude the same. Use your calculator to do this and round to the nearest dollar. Can we conclude the same as our Hypothesis Test? ? because the true average price of a two-year-old sedan (in average condition) Select an answer
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