Single-sample t-test and the cost of jeans: Numbeo is a crowd-sourced Web site that gathers data on cities and countries around the world (numbeo.com/cost-of-living). The data are searchable by city or country. For example, when we looked up Halifax, Canada, we discovered that a pair of jeans ("Levis 501 or similar") goes for an average of $55.23 with a standard deviation of $10.87 (Numbeo, 2017). The sample from Halifax was 147 people. Let's say that Levi Strauss & Co. told us that the mean price (in Canadian dollars) of Levi's 501 jeans around the world is $58.12.

1. If you wanted to test whether Levi's 501 jeans in Halifax cost a different amount from the world price, is this a one-tailed or a two-tailed test? 0.5 points

Two tailed

2. What hypothesis statements would you use?

a.Hypotheses in words: 0.5 points (0.25 per hypothesis)

Levis 501 jeans cost different from the world prices

Levis 501 cost the same as work prices

b.Hypotheses in symbolic notation: 0.5 points (0.25 per hypothesis)

U= worldprices

u worldprices

3. Calculate the t-statistic for our sample from Halifax.1 point

4. What is the degrees of freedom for this sample, and the t-critical if alpha = .05?1 point (0.5 points for df; 0.5 points for t-critical)

(HINT: if your df is not present on the t-table, use the next lower degrees of freedom)

5. What is your conclusion: should you reject the null or fail to reject the null? What does this conclusion mean in plain English?1 point (0.5 pt for decision, 0.5 pt for explanation)

6. Look up the p-value for your t-statistic using this online calculator:https://www.socscistatistics.com/pvalues/tdistribution.aspx

What is the p-value? Is this p-value less than alpha? 0.5 points (0.25 points for p-value; 0.25 points for comparison to alpha)