Answered: a. Identify Ho and Ha b. find the…

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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Question

A used car dealer says that the mean price of a three-year-old sports utility vehicle is $24,000.You suspect this claim is incorrect and find that a random sample of 20 similar vehicles has a mean price of $24,551 and a standard deviation of $1943. Is there enough evidence to reject the claim at α =0.10?
Assume the population is normally distributed.

a. Identify Ho and Ha

b. find the critical values and sket the rejection region

c. calculate the test statistic

d. Do you "reject the Ho" or "fail to reject Ha"?

e. interpret results ( does it support or reject the claim)

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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