According to the National Automobile Dealers Association, the mean price for used cars is $10,062. A manager of a Kansas City used car dealership reviewed a sample of 50 recent used car sales at the dealership in an attempt to determine whether the population mean price for used cars at this particular dealership differed from the national mean. The prices for the sample of 50 cars are shown in the table below. 9,440 7,910 9,055 8,895 9,385 10,455 10,995 7,500 11,970 6,365 9,835 8,830 10,150 10,085 12,525 9,380 12,220 10,700 8,955 7,540 10,180 10,005 9,525 10,040 10,005 7,675 7,330 10,125 10,960 11,025 7,670 10,500 10,620 10,380 8,240 10,435 12,120 9,990 9,925 10,270 9,175 8,540 9,340 8,120 12,450 11,295 8,995 9,890 9,270 11,365 a. Formulate the hypotheses that can be used to determine whether a difference exists in the mean price for used cars at the dealership. Но : и $10,062 %3D Ha : µ * $10,062 b. What is the p-value? Enter negative value if your answer is negative. t-value (to 2 decimals)

According to the National Automobile Dealers Association, the mean price for used cars is $10,062. A manager of a Kansas City used car dealership reviewed a sample of 50 recent used car sales at the dealership in an attempt to determine whether the population mean price for used cars at this particular dealership differed from the national mean. The prices for the sample of 50 cars are shown in the table below. 9,440 7,910 9,055 8,895 9,385 10,455 10,995 7,500 11,970 6,365 9,835 8,830 10,150 10,085 12,525 9,380 12,220 10,700 8,955 7,540 10,180 10,005 9,525 10,040 10,005 7,675 7,330 10,125 10,960 11,025 7,670 10,500 10,620 10,380 8,240 10,435 12,120 9,990 9,925 10,270 9,175 8,540 9,340 8,120 12,450 11,295 8,995 9,890 9,270 11,365 a. Formulate the hypotheses that can be used to determine whether a difference exists in the mean price for used cars at the dealership. Но : и $10,062 %3D Ha : µ * $10,062 b. What is the p-value? Enter negative value if your answer is negative. t-value (to 2 decimals)

Name: According to the National Automobile Dealers Association, the mean pr
Uploaded: 2024-03-20T07:07:12.000Z
Channel: Bartleby
Description: According to the National Automobile Dealers Association, the mean price for used cars is $10,062. A manager of a Kansas City used car dealership reviewed asample of 50 recent used car sales at the dealership in an attempt to determine whether the p

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Similar questions

The mean price for used cars is $10,145 . A manager of a Kansas City used car dealership reviewed a sample of 50 recent used car sales at the dealership in an attempt to determine whether the population mean price for used cars at this particular dealership differed from the national mean. The prices for the sample of 50 cars are shown in the table below. 11,359 10,829 10,380 11,454 13,176 8,397 12,559 6,594 11,558 12,653 10,750 6,319 12,018 11,176 11,644 8,221 12,408 11,007 10,063 8,583 12,736 8,142 12,681 6,435 6,297 6,906 11,064 12,476 12,103 6,240 6,668 7,427 13,041 11,237 7,131 10,306 8,228 10,245 7,683 9,775 11,166 6,524 6,487 8,317 11,815 9,836 10,249 11,173 7,156 8,307 b. What is the p-value? Enter negative value if your answer is negative. t-value (to 3 decimals)
According to the National Automobile Dealers Association, the mean price for used cars is $10,192. A manager of a Kansas City used car dealership reviewed a sample of 50 recent used car sales at the dealership in an attempt to determine whether the population mean price for used cars at this particular dealership is below the national mean. The prices for the sample of 50 cars are shown in the file named UsedCars. 12400 10400 12100 10000 11000 8895 7675 9975 6350 10470 9895 11250 8795 12500 9340 10150 9200 9395 11000 10640 10000 7500 8000 10440 10200 10300 9740 9280 10930 8000 9000 7680 9400 10730 7350 12240 11970 8240 9910 10080 9440 8970 9500 10050 10130 11400 8500 7500 9090 10500 d. Report the critical value(s) associated with a 5% level of significance. What is your decision based on the critical value approach? (Reject Ho or fail to reject Ho?) e. Compute the p-value of the…
Suppose the mean price for used cars is $10,198. A manager of a Kansas City used car dealership reviewed a sample of 50 recent used car sales at the dealership in an attempt to determine whether the population mean price for used cars at this particular dealership differed from the national mean. The prices for the sample of 50 cars are shown in the file named UsedCars. 12,400 10,400 12,100 10,000 11,000 8,895 7,675 9,975 6,350 10,470 9,895 11,250 8,795 12,500 9,340 10,150 9,200 9,395 11,000 10,640 10,000 7,500 8,000 10,440 10,200 10,300 9,740 9,280 10,930 8,000 9,000 7,680 9,400 10,730 7,350 12,240 11,970 8,240 9,910 10,080 9,440 8,970 9,500 10,050 10,130 11,400 8,500 7,500 9,090 10,500 (a) Formulate the hypotheses that can be used to determine whether a difference exists in the mean price for used cars at the dealership. H0: ? ≤ 10,198 Ha: ? > 10,198 H0: ? < 10,198 Ha: ? ≥ 10,198 H0: ? = 10,198 Ha: ? ≠ 10,198 H0: ? > 10,198 Ha: ? ≤ 10,198 H0: ? ≥ 10,198…
A real estate company lists and sells residential real estate property in and around a major city. At a recent company meeting, the managing partner asked the office administrator to provide a descriptive analysis of the asking prices of the homes the company currently has listed. The asking prices are provided in the accompanying table. These data constitute a population. Complete parts a through e below. Click the icon to view the data. a. Compute the mean listing price. The population mean listing price is $ (Round to the nearest cent as needed.) b. Compute the median listing price. The median for this population is $ (Type an integer or a decimal.) c. Compute the range in listing prices. The range for this population is $. (Type an integer or a decimal.) d. Compute the standard deviation in listing prices. The population standard deviation, o, is $. (Round to the nearest cent as needed.) e. Write a short report using the statistics computed in parts a-d to describe the prices of…
The following refer to the following data set: 24 35 98 30 91 40 93 40 57 39 What is the mean () of this data set? mean = (Please show your answer to one decimal place.) What is the median of this data set? median = What is the mode of this data set? mode =
A pollster wants to know the average income of those who supported John McCain for president. He asks 100 supporters and calculates a mean of $67,543. Is this mean x overbar or mu ? A. mu , because it is calculated based off data from the entire population.. B. x overbar , because it is calculated based off data from the entire population. C. mu , because it is calculated based off data from a sample. D. x overbar , because it is calculated based off data from a sample.
The following items represent the number of birds observed at a given feeder over the past several days. What is the median number of birds to visit that feeder? 66, 9, 44, 25, 37, 94, 92, 26
An insurance company crashed four cars of the same model at 5 miles per hour. The costs of repair for each of the four crashes were $444, $447, $470, and $207 O. Compute the mean, median, and mode cost of repair. Compute the mean cost of repair. Select the correct choice below and, if necessary, fill in the answer box to complete your choice. O A. The mean cost of repair is $ (Round to the nearest cent as needed.) O B. The mean does not exist. Compute the median cost of repair. Select the correct choice below and, if necessary, fill in the answer box to complete your choice. O A. The median cost of repair is $ (Round to the nearest cent as needed.) O B. The median does not exist. Compute the mode cost of repair. Select the correct choice below and, if necessary, fill in the answer box to complete your choice. O A. The mode cost of repair is $ (Round to the nearest cent as needed.) O B. The mode does not exist.
only HANDWRITTEN answer needed ( NOT TYPED)