The price of a certain combo meal at different franchises of a national fast food company varies
Question:
The price of a certain combo meal at different franchises of a national fast food company varies from $5.00 to $7.36 and has a known standard deviation of $2.11. A sample of 23 students in an online course that includes students across the country stated that their average price is $5.75. 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.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Question Posted: