Question
Nationally, the average price for a used car is $9,500. A sample of 25 used car prices in the Midwest is provided in the excel
Nationally, the average price for a used car is $9,500. A sample of 25 used car prices in the Midwest is provided in the excel file "midwestcars". Perform a hypothesis test todetermineifusedcarpricesarehigherthan$9,500intheMidwest.
a. Specifytheappropriatenullandalternativehypothesesforthisquestion.
H0: $9,500
Ha:> $9,500
b. Report the test statistic and p-value. Interpret these values.
Test Statistic t=1.37
c. Let=.05. What is the conclusion of the test? Explain thisresult.
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A Survey of Mathematics with Applications
Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde
10th edition
134112105, 134112342, 9780134112343, 9780134112268, 134112261, 978-0134112107
