Mean

50295.3

Standard Error

4360.254065

Median

44825

Mode

#N/A

Standard Deviation

13788.33402

Sample Variance

190118155.1

Kurtosis

-0.993997093

Skewness

0.525985981

Range

41256

Minimum

31244

Maximum

72500

Sum

502953

Count

10

-Mean= 50295.3.

-Median= 44825.

-SD= 13788.33402.

At time of 11th Observation.

Price Data:-

W6: Hypothesis testing I and II; Testing differences between means, variances and proportions

Image source: weibull

A town official claims that the average vehicle in their area sells formore thanthe 40^thpercentile of your data set.

Using the data, you obtained in week 1, as well as the summary statistics you found for the original data set (excluding the super car outlier), run a hypothesis test to determine if the claim can be supported.

Make sure you state all the important values, so your fellow classmates can use them to run a hypothesis test as well.

Use the descriptive statistics you found during Week 2 -- NOT the new SD you found during Week 4.

Because again, we are using the original 10 sample data set NOT a new smaller sample size.

Use alpha = .05 to test your claim.

(Note: You will want to use the function =PERCENTILE.INCin Excel to find the 40^thpercentile of your data set.

Hopefully, this Excel function looks familiar to you from Week 2.)

First, determine if you are using azort-test and explain why.

Then conduct a four-step hypothesis test including a sentence at the end justifying the support or lack of support for the claim and why you made that choice.

I encourage you to review theWeek 6Hypothesis Testing PDFat the bottom of the discussion.

This will give you a step-by-step example of how to calculate and run a hypothesis test using Excel.

I DO NOT recommend doing this by hand.

Let Excel do the heavy lifting for you.

You can also use this PDF in the Quizzes section.

There were 5additional PDFs that were created to help you with the Homework, Lessons, and Tests in Quizzes section.

While they won't be used to answer the questions in the discussion, they are just as useful and beneficial.

I encourage you to review these ASAP!

These PDFs are also located at the bottom of the discussion.

Once you have posted your initial discussion, you must reply to at least two other learner's post.

Each post must be a different topic.

So, you will have your initial post from one topic, your first follow-up post from a different topic, and your second follow-up post from one of the other topics.

Of course, you are more than welcome to respond to more than two learners.

Instructions:Make sure you include your data set in your initial post as well.

Youmust alsorespond to at least 2 other students.

In your first peer response post, look at the hypothesis test results of one of your classmates and explain what a type 1 error would mean in a practical sense.

Looking at your classmate's outcome, is a type 1 error likely or not?

What specific values indicated this?

In your second peer response post, using your classmate's values, run another hypothesis test using this scenario:

A town official claims that the average vehicle in their areaDoes Notsell for the 80^thpercentile of your data set.

Conduct a four-step hypothesis test including a sentence at the end justifying the support or lack of support for the claim and why you made that choice.

Note: this test will be different than the initial post, starting with the hypothesis scenario.

Use alpha = .05 to test your claim.

Week 6 Hypothesis Testing .pdf

Week 6 Hypothesis Testing Proportions 1-sample.pdf

Week 6 2-sample Hypothesis Testing and CI Proportions.pdf

Week 6 2-sample Hypothesis Testing and CI Unknown SD.pdf

Week 6 2-sample Hypothesis Testing and CI Known S.pdf

Week 6 2-sample Hypothesis Testing and CI matched or paired.pdf