**Hypothesis Testing - Educational Example**A leasing firm claims that the mean number of miles driven annually, $ \mu $, in its leased cars is less than 13,240 miles. A random sample of 90 cars leased from this firm had a mean of 12,855 annual miles driven. It is known that the population standard deviation of the number of miles driven in cars from this firm is 1,360 miles. Is there support for the firm's claim at the 0.05 level of significance?**Perform a one-tailed test. Then complete the parts below.**Carry your intermediate computations to three or more decimal places, and round your responses as specified below. (If necessary, consult a list of formulas.)---**(a)** State the null hypothesis $ H_0 $ and the alternative hypothesis $ H_1 $.$ H_0 : $ $ H_1 : $---**(b)** Determine the type of test statistic to use.$ \text{(Choose one)} \ \ \downarrow $---**(c)** Find the value of the test statistic. (Round to three or more decimal places.)\[ \]---**(d)** Find the critical value. (Round to three or more decimal places.)\[ \]---**(e)** Can we support the leasing firm's claim that the mean number of miles driven annually is less than 13,240 miles?\[ \text{Yes} \ \ \ \text{No} \] ---Use this structured approach to test the hypothesis of the leasing firm accurately, employing the concepts of statistical tests, significance levels, and critical values.

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Answered: A leasing firm claims that the mean…

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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A company claims that the average time a customer waits on hold is less than 5 minutes. A random sample of 35 customers shows a sample mean wait time of 4.78 minutes. Assume that the population standard deviation of wait time is 1.8 minutes. Test the company's claim at 1% level of significance. What is your conclusion.
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3) A SRS of 25 of the same model of car results in an annual mean maintenance cost of $575 and a standard deviation of $58. A car sales person claims the annual mean maintenance cost of that model is less than $600. Test the claim with a = .01.
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