6) (10.50) A magazine collects data each year on the price of a hamburger in a certain fast food restaurant in various countries around the world. The price of this hamburger for a sample of restaurants in Europe in January 2014 resulted in the following hamburger prices (after conversion to U.S. dollars) 5.14 4.96 4.08 4.64 5.25 4.68 4.19 4.94 5.16 5.56 5.33 4.60 (the data sums to 58.53) The mean price of this hamburger in the U.S. in January 2014 was $4.62. For purposes of this exercise, assume it is reasonable to regard the sample as representative of European restaurants. Does the sample provide convincing evidence that the mean January 2014 price of this hamburger in Europe is greater than the reported U.S. price? Test the relevant hypotheses using a=0.05. a) (2) State your hypotheses, be sure to define your parameters Ho: Where represents (finish the sentence) Ha: b) (3) Calculate your test statistic: Show the formula and plug in the values round to 2 decimals. Note you will need to calculate the sample mean and sample standard deviation using your calculator to 4 decimals to plug in. Round your answer to 2 decimal places for use in part c. c) (2) Calculate the P-value and round to 3 decimals. (use the second t table, use the closest value to what you are looking for). Fill in the probability statement below. Probability statement P-value = P( ) = P( < or > from(b) < or closest val. in t table d) (2) Do you reject or fail to reject Ho? Explain why? (compare the p value to alpha stating their values) p = a = .05 therefore we the null hypothesis. e) (2) State your conclusion in terms of this problem. (relate your answer to this particular case)