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The mean price for used cars nationally is $18,500. Review the sample of 50 cars from a particular Vancouver dealership (found in the worksheet 'Sale
The mean price for used cars nationally is $18,500. Review the sample of 50 cars from a particular Vancouver dealership (found in the worksheet 'Sale price') to see if the average price for the population of this particular dealership differs from the national average. A) Formulate the hypotheses that can be used to determine whether a difference exists in the mean price for used cars at the dealership. B) What is the p-value? (& interpret the p-value)
C) at alpha=.05, what's your conclusion?
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