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The R. R. Bowker Company of New York collects information on the retail prices of books. In 2000, the mean retail price of agriculture books
The R. R. Bowker Company of New York collects information on the retail prices of books. In 2000, the mean retail price of agriculture books was $66.52. This year's retail prices for 46 randomly selected agriculture books resulted in a mean of $63.88. If the standard deviation of prices for this year's agriculture books is $8.45, test the claim at 10% significance level that this year's mean retail price of agriculture books has changed from the 2000 mean? Is this a z-score or a t-score problem? Ho H HA: H $ Is this right-tailed, left-tailed, or two-tailed test? Test statistic Critical value OR P-value Decision Conclusion There is evidence to the claim that the mean retail price has changed
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