A used car dealer says the mean price of a 2008 Honda CR-V is $20,500. A consumer group believes the acutal mean price is less than that amount. They find that a random sample of 14 similar vehicles has a mean price of $19,850 and a standard deviation of $1084. Is there enough evidence to support the consumer group's claim at the 0.05 significance level? Excel code or input Sample Size (n) Sample Mean (x-bar) Standard Deviation Hypothesized Mean (u) the Null Hypothesis Alternative Hypothesis Null (Status Quo) Standard Error Test Statistic (t) degrees of freedom |s/sqrt(n) (s mean-u)/std error n-1 p-value (lower tail) p-value (upper tail) p-value (two tail) T.Dist(t,n-1, true) 1 - Lower tail value |2*MIN(L tail, U tail) alpha value |appropriate p-value conclusion write in terms of the alternative hypothesis
A used car dealer says the mean price of a 2008 Honda CR-V is $20,500. A consumer group believes the acutal mean price is less than that amount. They find that a random sample of 14 similar vehicles has a mean price of $19,850 and a standard deviation of $1084. Is there enough evidence to support the consumer group's claim at the 0.05 significance level? Excel code or input Sample Size (n) Sample Mean (x-bar) Standard Deviation Hypothesized Mean (u) the Null Hypothesis Alternative Hypothesis Null (Status Quo) Standard Error Test Statistic (t) degrees of freedom |s/sqrt(n) (s mean-u)/std error n-1 p-value (lower tail) p-value (upper tail) p-value (two tail) T.Dist(t,n-1, true) 1 - Lower tail value |2*MIN(L tail, U tail) alpha value |appropriate p-value conclusion write in terms of the alternative hypothesis
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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