A scrap metal dealer claims that the mean of his sales is “no more than $80,” but an Internal Revenue Service agent believes the dealer is untruthful. Observing a sample of 20 cash customers, the agent finds the mean purchase to be $91, with a standard deviation of $21. Assuming the population is approximately normally distributed and using the 0.05 level of significance, is the agent’s suspicion confirmed? State the alpha: α Select and compute the test statistic (briefly state the reasons why you have chosen the particular test statistic): Briefly discuss your decision rule.
A scrap metal dealer claims that the mean of his sales is “no more than $80,” but an Internal Revenue Service agent believes the dealer is untruthful. Observing a sample of 20 cash customers, the agent finds the mean purchase to be $91, with a standard deviation of $21. Assuming the population is approximately normally distributed and using the 0.05 level of significance, is the agent’s suspicion confirmed? State the alpha: α Select and compute the test statistic (briefly state the reasons why you have chosen the particular test statistic): Briefly discuss your decision rule.
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 scrap metal dealer claims that the mean of his sales is “no more than $80,” but an Internal Revenue Service agent believes the dealer is untruthful. Observing a sample of 20 cash customers, the agent finds the mean purchase to be $91, with a standard deviation of $21. Assuming the population is approximately
- State the alpha: α
- Select and compute the test statistic (briefly state the reasons why you have chosen the particular test statistic):
- Briefly discuss your decision rule.
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