Question: Please show all steps in excel formulas A B The price of a certain combo meal at different franchises of a national fast food company

Please show all steps in excel formulas

Please show all steps in excel formulas A B The

A B The price of a certain combo meal at different franchises of a national fast food company varies from $5.00 to $7.36. A sample of 23 students in an online course that includes students across the country stated that their average price is $5.75 and standard deviation is $2.11. The students have also stated that they are generally unwilling to pay more than $6.50 for this meal. Formulate and conduct a hypothesis test to determine if you can conclude that the population mean is less than $6.50. 23 5.75 2.11 6.5 0.05 1 2 3 Sample Size 4 Sample Mean 5 Sample Standard Deviation 6 Hypothesized value 7 Level of significance 8 9 a) Specify the hypotheses and type of test 10 HO 11 H 12 One-sample or Two-samples? 13 Lower, Upper, or Two-tailed test? 14 15 b) Calculate t-score test statistic 17 critical value 18 c) Compare with critical value Does test statistic fall into rejection region? 20 21 d) draw a conclusion 22 Can Ho be rejected? 23 Conclusion WN 16 -1.717144374 19

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