The mean price for a gallon of whole milk in Kansas City, MO was the highest...
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The mean price for a gallon of whole milk in Kansas City, MO was the highest in the country for 2020 at $4.50. In March 2021 the mean price for a gallon of whole milk sampled from 30 different grocery stores in Kansas City, MO was $4.66. Assume that the population standard deviation is known to be $0.57 and we known that milk prices are normally distributed. Summarize the results of a hypothesis test used to determine if the mean price for a gallon of whole milk has increased from the 2020 average price. Use a = 0.10. p-value = 1.07%, do not reject Ho. p-value = 46.87%, do not reject Ho. p-value = 1.07%, reject Ho. p-value = 6.21%, do not reject Ho. The mean price for a gallon of whole milk in Kansas City, MO was the highest in the country for 2020 at $4.50. In March 2021 the mean price for a gallon of whole milk sampled from 30 different grocery stores in Kansas City, MO was $4.66. Assume that the population standard deviation is known to be $0.57 and we known that milk prices are normally distributed. Summarize the results of a hypothesis test used to determine if the mean price for a gallon of whole milk has increased from the 2020 average price. Use a = 0.10. p-value = 1.07%, do not reject Ho. p-value = 46.87%, do not reject Ho. p-value = 1.07%, reject Ho. p-value = 6.21%, do not reject Ho.
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Related Book For
Statistics For Business And Economics
ISBN: 9780538481649
11th Edition
Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams
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