It is claimed that the average cost of a business statistics textbook $80.

Research question: is the average cost of business statistics textbooks $80?

Your task is to collect the prices of at least 30 business statistics books. Use amazon.com to collect the prices, in the search field type business statistics: paperback. The books should be paperback (not hard cover, kindle, to rent, nor e-text). Use the t-test to test the claim.

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The project will consist of five parts.

1)Introduction

Talk about your project idea and research question.

how you collect the idea

write down the null and alternative hypotheses.

2)List the assumptions to perform one-sample t-test.

List the required sample data.

Write down the test statistics formula.

3)Describe your outcome variable (the price in this case).

Make a histogram and boxplot for outcome variable.

Compute summary statistics for the outcome variable.

Are there outliers?

Is the variable normally distributed?

4)Constructing a 95% confidence interval for variable.

perform the t-test for the hypotheses at alpha = 5%

report p-value

5)Conclusion:

Briefly summarize what you did for this project and what you found.

Your data looks like

Name of the book

Price ($)

Business Statistics and Analytics in Practice

65

Basic Statistics for Business and Economics

56

etc

etc

Here is the information to do the analysis:

1-Go to this site:

https://www.statskingdom.com/t_test.html#tcalculators

The assumptions, sample requirement and t-test are here.

2.on one-sample t-test, click on (Go to the calculator).

See the attachments to complete the analysis.

a.Change the tails to two tails.

b.Change Expected population mean (0): to 80.

c.Click on Enter your data.

d.Change the group1 to price.

e.Enter or Paste your data.

f.Click on calculate sample.

g.Then click on calculate test. Now, you have all the analysis. See the pdf attachment.

3. To Draw histogram and box-plot use excel or go this site

https://statscalculator.com/

and enter or paste your observations.