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