Table II A

Prices of Midsized Cars

Imported Vs. Domestic Vehicles

Type of Vehicle: Foreign or Domestic

N

Mean

Std. Deviation

Std. Error Mean

Imported

30

25846.20

4288.838

783.031

Domestic

50

21641.34

3594.166

508.292

Use the information in Table II A to test the hypothesis that imported automobiles are more or less expensive than domestic automobiles. What is the Critical Z Value for a test of hypothesis at the .005 level of significance? What is your conclusion?

The Critical Z value for this test is 2.576 and the calculated Z value is 6.025. Therefore, I reject the null hypothesis of no significant difference in the price of imported vehicles compared to domestic vehicles.

The Critical Z value for this test is 6.025 and the calculated Z value is about 2.576. Therefore, I cannot reject the null hypothesis of no significant difference in the price of imported vehicles compared to domestic vehicles and conclude that imported vehicles are more expensive than domestic vehicles

The Critical Z value for this test is 2.576 and the calculated Z value is about 4.505. Therefore, I reject the null hypothesis of no significant difference in the price of imported vehicles compared to domestic vehicles and conclude that imported vehicles are more expensive than domestic vehicles

The Critical Z value for this test is 2.33 and the calculated Z value is about 4.505. Therefore, I cannot reject the null hypothesis of no significant difference in the price of imported vehicles compared to domestic vehicles.