Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A report states that the cost of repairing a hybrid vehicle is falling even while typical repairs on conventional vehicles are getting more expensive. The
A report states that the cost of repairing a hybrid vehicle is falling even while typical repairs on conventional vehicles are getting more expensive. The most common hybrid repair, replacing the hybrid inverter assembly, had a mean repair cost of $3,927 in 2012. Industry experts suspect that the cost will continue to decrease given the increase in the number of technicians who have gained expertise on fixing gas-electric engines in recent months. Suppose a sample of 100 hybrid inverter assembly repairs completed in the last month was selected. The sample mean repair cost was $3,790 with the sample standard deviation of $600. Complete parts (a) and (b) below. State the null and alternative hypotheses. Ho: H (Type integers or decimals.) Find the test statistic for this hypothesis test. STAT = (Round to two decimal places as needed.) The critical value(s) for the test statistic is(are). (Round to two decimal places as needed. Use a comma to separate answers as needed.) Is there sufficient evidence to reject the null hypothesis using a = 0.10? O A. Reject the null hypothesis. There is sufficient evidence at the 0.10 level of significance that the population mean cost is less than $3,927. O B. Reject the null hypothesis. There is sufficient evidence at the 0.10 level of significance that the population mean cost is greater than $3,927. O C. Do not reject the null hypothesis. There is insufficient evidence at the 0.10 level of significance that the population mean cost is greater than $3,927. O D. Do not reject the null hypothesis. There is insufficient evidence at the 0.10 level of significance that the population mean cost is less than $3,927.b. Determine the prvalue and Interpret its meaning. The pualue is . (Round 0 three deCImal places as needed.) What does this pevalue mean given the results of part (a)? {fi A. "he pvalue is the probability of getting a sample mean cost of $3790 or less ifthe actual mean cost is $3.927. [fl B. "he pyalue is the probability that the actual mean cost is more than $3,?90. [fl C. "he pvalue is the probability that the actual mean cost is $3790 or less. {fl D. "he pvalue is the probability that the actual mean cost is $3.92? or less given the sample mean cost is $3,790
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started