Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A used car dealer says that the mean price of a 1995 Ford F-150 Super Cab is at least $16,500. You suspect this claim is
A used car dealer says that the mean price of a 1995 Ford F-150 Super Cab is at least $16,500.
You suspect this claim is incorrect and find that a random sample of 14 similar vehicles has a
mean price of $15,700 and a standard deviation of $1250.
Is there enough evidence to reject the
dealer's claim at
= 0.05? Draw the rejection region with the test statistic, the critical value and
p-value
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