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Name: A sample of 9 people were surveyed and asked how much money they wante
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Description: A sample of 9 people were surveyed and asked how much money they wanted to spend on buying a new car with a mean of 30.55 and a standard deviation of 13.62 vs. how much they actually spent on buying a new car and the mean was 31.44 and a standard Dev

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 sample of 9 people were surveyed and asked how much money they wanted to spend on buying a new car with a mean of 30.55 and a standard deviation of 13.62 vs. how much they actually spent on buying a new car and the mean was 31.44 and a standard Deviation of 18.34. Test the claim that people spend more money than they say they want to at a 5% significance level. Assume everything is normally distributed.

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