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run another hypothesis test using this scenario: A town official claims that the average vehicle in their area Does Not sell for 80 th percentile
run another hypothesis test using this scenario: A town official claims that the average vehicle in their area Does Not sell for 80thpercentile 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.
To find my 40th percentile, I used PERCENTILE.INC(data set, .4) on Excel which resulted in the value of $29,075. I'll be using the T value rather than the Z, which I calculated by dividing my 40th percentile from my mean of $35,770.5 and my standard deviation divided by the square root of the sample size, which is 10. 35770.5-29075 14025.76 = 1.51 Then to solve for my P value, I used T.DIST.RT(1.51, 9). My P value is .083, meaning that my P value is greater than alpha. Thus resulting in me failing to reject the null hypothesis. I've attached a video from my favorite human, The Organic Chemistry Tutor who covers different examples of hypothesis testing. I always find that watching videos helps when reading a text over and over again isn't helping me grasp information well enoughStep by Step Solution
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