A company collects information on the retail prices of books. In 2005, the mean price of all history books was $51.46 Thisyear, a sample of 40 history books were randomly selected with a sample mean of $54.89. Assume that the populationstandard deviation of prices for this year's history books is 7.61. At 1% significance level, do the data provide sufficientevidence to conclude that this year's has increased the mean x=51.46 of the year 2005? (solve by stating the nullhypothesis and the alternative hypothesis)

Sample size(n)=40 sample mean(x¯)=$54.89 Population standard deviation(σ)=7.61 and α=0.01

Answered: A company collects information on the…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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