According to the website www.truecar.com, the average price of a new sports car sold in the United

Question:

According to the website www.truecar.com, the average price of a new sports car sold in the United States in 2015 was $31,262. Suppose that, during the first three months of 2016, a random sample of prices paid for sports cars is as follows:

$29,121 $31,472 $28,054 $31,005 $36,295 $26,205 $33,299 $25,602 $33,726 $39,731 $32,771 $27,816


Based on the sample information, can you conclude at the α = 0.05 level of significance that the average sports car price in 2016 is lower than in 2015?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Business Statistics A Decision Making Approach

ISBN: 9780134496498

10th Edition

Authors: David F. Groebner, Patrick W. Shannon, Phillip C. Fry

Question Posted: