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Used Car Cost: A used car dealer says that the mean price of a three-year-old sport utility vehicle (in good condition) is $20,000. You suspect
- Used Car Cost: A used car dealer says that the mean price of a three-year-old sport utility vehicle (in good condition) is $20,000. You suspect this claim is incorrect and find that a random sample of 22 similar vehicles has a mean price of $20,640 and a standard deviation of $1990. Answer these questions:
Will we use the z-or t-distribution for this test? Why?
What are the null and alternate hypothesis? How do you know? Which one is the claim, why?
Is this a left-tailed, right tailed, or two-tailed test? How do you know?
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