According to a leasing firm's reports, the mean number of miles driven annually in its leased cars is 13,480 miles with a standard deviation of 1560 miles. Thecompany recently starting using new contracts which require customers to have the cars serviced at their own expense. The company's owner believes the meannumber of miles driven annually under the new contracts, μ, is less than 13,480 miles. He takes a random sample of 150 cars under the new contracts. The carsin the sample had a mean of 13,260 annual miles driven. Is there support for the claim, at the 0.01 level of significance, that the population mean number ofmiles driven annually by cars under the new contracts, is less than 13,480 miles? Assume that the population standard deviation of miles driven annually wasnot affected by the change to the contracts.Perform a one-tailed test. Then complete the parts below.Carry your intermediate computations to three or more decimal places, and round your responses as specified below. (If necessary, consult a list of formulas.)(a) State the null hypothesis Ho and the alternative hypothesis H₁.H:0H₁ :0(b) Determine the type of test statistic to use.(Choose one) ▼(c) Find the value of the test statistic. (Round to three or more decimal places.)0(d) Find the p-value. (Round to three or more decimal places.)(e) Can we support the claim that the population mean number of miles drivenis less than 13,480 miles?I|xX0=00#0XOS0500<0Р0

Here given , Sample mean = 13, 260 Population standard deviation = 1560 Sample size = 150…

Answered: According to a leasing firm's reports,…

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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