A student majoring in Business who has passed the Business Math course suspects that the average price of dinner at the X restaurant has increased during the pandemic. Before the pandemic, the price for dinner he paid was $21, $22, $22.50, $23, $23.50. After the pandemic, he paid $25, $25.50, $30, $27, and $26.50. a) Perform a hypothesis test analysis to find out whether there has been an average increase in the price of lunch (Use six Hypothesis Testing Steps with one tailed hypothesis test & without p value) ! b) Interpret (and explain) the results of point a above!
A student majoring in Business who has passed the Business Math course suspects that the average price of dinner at the X restaurant has increased during the pandemic. Before the pandemic, the price for dinner he paid was $21, $22, $22.50, $23, $23.50. After the pandemic, he paid $25, $25.50, $30, $27, and $26.50. a) Perform a hypothesis test analysis to find out whether there has been an average increase in the price of lunch (Use six Hypothesis Testing Steps with one tailed hypothesis test & without p value) ! b) Interpret (and explain) the results of point a above!
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 student majoring in Business who has passed the Business Math course suspects that the average price of dinner at the X restaurant has increased during the pandemic. Before the pandemic, the price for dinner he paid was $21, $22, $22.50, $23, $23.50. After the pandemic, he paid $25, $25.50, $30, $27, and $26.50.
a) Perform a hypothesis test analysis to find out whether there has been an average increase in the price of lunch (Use six Hypothesis Testing Steps with one tailed hypothesis test & without p value) !
b) Interpret (and explain) the results of point a above!
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