Question
A used car dealer says that the mean price of a three-year-old sport utility vehicle in good condition is $18,000. A random sample of 20
A used car dealer says that the mean price of a three-year-old sport utility vehicle in good condition is $18,000. A random sample of 20 such vehicles has a mean price of $18,450 and a standard deviation of $1930. At =0.08, can the dealer's claim be supported assuming the population is normally distributed?
Yes, since the p-value of 0.310 is less than alpha of 0.08, the null is rejected. The claim is the alternative, so is supported
No, since the p-value of 0.310 is less than alpha of 0.08, the null is rejected. The claim is the null, so is not supported
No, since the p-value of 0.310 is close to the alpha of 0.08, the null is not rejected. The claim is the null, so is supported
Yes, since the p-value of 0.310 is greater than alpha of 0.08, the null is not rejected. The claim is the null, so is supported
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