Question: Looking for a solution to this question Most individuals are aware of the fact that the average annual repair cost for an automobile depends on

Looking for a solution to this question

Looking for a solution to this question Most individuals are aware ofthe fact that the average annual repair cost for an automobile depends

Most individuals are aware of the fact that the average annual repair cost for an automobile depends on the age of the automobile. A researcher is interested in finding out whether the variance of the annual repair costs also increases with the age of the automobile. A sample of 26 automobiles 4 years old showed a sample standard deviation for annual repair costs of $171.37 and a sample of 23 automobiles 2 years old showed a sample standard deviation for annual repair costs of $118.35. Let 4 year old automobiles be represented by population 1. The data is located in the Microsoft Excel Online file below. X Open spreadsheet 1. State the null and alternative versions of the research hypothesis that the variance in annual repair costs is larger for the older automobiles. Ho:of 1 less than or equal to B2 2 Ha : o' 1 greater than 302 2 2. Conduct the hypothesis test at a 0.05 level of significance. Calculate the value of the test statistic (2 decimals). Calculate the critical value (2 decimals). Calculate the p-value (4 decimals). Reject null hypothesis? Yes What is your conclusion? Conclude that 4 year old automobiles have a larger variance in annual repair costs compared to 2 year old automobiles\f

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