Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1)Consumers know for fact that on valentine's day, the prices of roses vary with an average standard deviation of P75. A random sample of 23

1)Consumers know for fact that on valentine's day, the prices of roses vary with an average standard deviation of P75. A random sample of 23 buyers was observed. Their purchasing prices yielded a standard deviation of P87. Can we concluded at the 1% level of significance that the prices of roses on Valentine's day show significant increased variability?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Discrete Mathematics and Its Applications

Authors: Kenneth H. Rosen

7th edition

0073383090, 978-0073383095

More Books

Students also viewed these Mathematics questions

Question

Use Eq. (6) to estimate Af = f(3.53, 8.98) - f(3.5,9)

Answered: 1 week ago

Question

What is the connection between risk assessment and the CCP?

Answered: 1 week ago