Recall from Exercise 8.12 that Bayus (1991) studied the mean numbers of auto dealers visited by early

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Recall from Exercise 8.12 that Bayus (1991) studied the mean numbers of auto dealers visited by early and late replacement buyers. Letting p be the mean number of dealers visited by late replacement buyers, set up the null and alternative hypotheses needed if we wish to attempt to provide evidence that p differs from 4 dealers. A random sample of 100 late replacement buyers yields a mean and a standard deviation of the number of dealers visited of  = 4.32 and s = .67. Use critical values to test the hypotheses you set up by setting α equal to .10, .05, .01, and .001. Do we estimate that p is less than 4 or greater than 4?
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Business Statistics In Practice

ISBN: 9780073401836

6th Edition

Authors: Bruce Bowerman, Richard O'Connell

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