A new baker is trying to decide if he has an appropriate price set for his 3 tier wedding cakes which he sellsfor $93.32. He is particullarly interested in seeing if his wedding cakes sell for more than the averageprice. He searches online and finds 23 of the competitors in his area that sell 3 tier wedding cakes with amean price of $86.87 with a standard deviation of $10.11. Help the new baker by testing his his claim witha 0.10 level of significance.The correct hypotheses would be:Ο Η0: μ < $93.32HA: µ > $93.32 (claim)O Ho: µ > $93.32HA: µ < $93.32 (claim)Ο H: μ = $93.32HA:µ + $93.32 (claim)Since the level of significance is 0.10 the critical value is -1.321The test statistic is:(round to 3 places)The p-value is:(round to 3 places)The decision can be made to:O reject HoO do not reject HoThe final conclusion is that:O There is enough evidence to reject the claim that his wedding cakes sell for more than the averageprice.O There is not enough evidence to reject the claim that his wedding cakes sell for more than theaverage price.O There is enough evidence to support the claim that his wedding cakes sell for more than the averageprice.O There is not enough evidence to support the claim that his wedding cakes sell for more than theaverage price.

Let μ denotes the population average price set for his 3 tier wedding cakes which he sells for…

A new baker is trying to decide if he has an appropriate price set for his 3 tier wedding cakes which he sells for $93.32. He is particullarly interested in seeing if his wedding cakes sell for more than the average price. He searches online and finds 23 of the competitors in his area that sell 3 tier wedding cakes with a mean price of $86.87 with a standard deviation of $10.11. Help the new baker by testing his his claim with a 0.10 level of significance.

A new baker is trying to decide if he has an appropriate price set for his 3 tier wedding cakes which he sells for $93.32. He is particullarly interested in seeing if his wedding cakes sell for more than the average price. He searches online and finds 23 of the competitors in his area that sell 3 tier wedding cakes with a mean price of $86.87 with a standard deviation of $10.11. Help the new baker by testing his his claim with a 0.10 level of significance.

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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