Suppose that BC financial aid alots a textbook stipend by claiming that the average textbook at BC bookstore costs $ 72.88. You want to test this claim.

The null and alternative hypothesis in symbols would be:

H0:p=72.88

H1:p72.88

H0:=72.88

H1:72.88

H0:p72.88

H1:p>72.88

H0:p72.88

H1:p<72.88

H0:72.88

H1:>72.88

H0:72.88

H1:<72.88

The null hypothesis in words would be:

• The proportion of all textbooks from the store that are less than 72.88 is equal to 50%

The average price of textbooks in a sample is $ 72.88

The average of price of all textbooks from the store is less than $72.88.

The average price of all textbooks from the store is $72.88

The average of price of all textbooks from the store is greater than $72.88.

Based on a sample of 60 textbooks at the store, you find an average of 80.28 and a standard deviation of 12.8.

The point estimate is: ______ (to 3 decimals)

The 99 % confidence interval (use z*) is: _________ to (to 3 decimals)

Based on this we:

• Reject the null hypothesis
• Fail to reject the null hypothesis