A restaurant that bills its house account monthly believes that the average monthly bill is less than $200 per account. A random sample of 36 accounts is selected, resulting in a sample mean of $180 and a standard deviation of 20. Using a level of significance of 0.01, can we conclude that the average monthly bill is lower than $200 per account? 1. What is Ho and H1? 2. What is the Decision Rule? Show graphically, as well. 3. What is the computed value of the test statistic? 4. What is the decision regarding Ho? What can we conclude? 5. Compute and Interpret the p-value.

MATLAB: An Introduction with Applications
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A restaurant that bills its house account monthly believes that the average monthly
bill is less than $200 per account. A random sample of 36 accounts is selected,
resulting in a sample mean of $180 and a standard deviation of 20.
Using a level of significance of 0.01, can we conclude that the average monthly bill is
lower than $200 per account?
1. What is Ho and H1?
2. What is the Decision Rule? Show graphically, as well.
3. What is the computed value of the test statistic?
4. What is the decision regarding Ho? What can we conclude?
5. Compute and Interpret the p-value.
Transcribed Image Text:A restaurant that bills its house account monthly believes that the average monthly bill is less than $200 per account. A random sample of 36 accounts is selected, resulting in a sample mean of $180 and a standard deviation of 20. Using a level of significance of 0.01, can we conclude that the average monthly bill is lower than $200 per account? 1. What is Ho and H1? 2. What is the Decision Rule? Show graphically, as well. 3. What is the computed value of the test statistic? 4. What is the decision regarding Ho? What can we conclude? 5. Compute and Interpret the p-value.
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