BMW Crash Tests Because of the expense involved, car crash tests often use small samples. When five BMW cars are crashed under standard conditions, the repair costs (in dollars) are used to test the claim that the mean repair cost for all BMW cars is less than $1000. The Minitab results of this hypothesis test are shown below.
Based on the accompanying Minitab results of this hypothesis test, would BMW be justified in advertising that under the standard conditions, the repair costs average less than $1000?
Test of mu 5 1000 vs mu , 1000 Variable N Mean StDev SE Mean Cost 5 767 285 127 Variable 95.0% Upper Bound T P Cost 1039 21.83 0.071