Aused car dealer says that the mean price of a three-year-old sports utility vehide is $24,000. You suspect this claim is incorrect and find that a random sample of 24 similar vehicles has a mean price of $24,521 an deviation of 51913 Is there enough evidence to reject the claim at a =0.05? Complete parts (a) through (e) below. Assume the population is normally distributed. (c) Find the standardized test statistic L t=133 (Round to two decimal places as needed) (d) Decide whether to reject or fail to reject the null hypothesis OA. Fail to reject H, because the test statistic is in the rejection region(s) O B. Reject H, because the test statistic is in the rejection region(s) C. Fal to reject H, because the test statistic is not in the rejection region(s) O D. Reject H, because the test statistic is not in the rejection region(s). (e) Interpret the decision in the context of the original claim O A. Al the 5% level of significance, there is sufficient evidence to reject the claim that the mean price is not $24,000. OB. At the 5% level of significance, there is not sufficient evidence to reject the claim that the mean price is not $24,000. O C. At the 5% level of significance, there is not sufficient eviden

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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 24 similar vehicles has a mean price of $24 521 and a standard
deviation of $1913. Is there enough evidence to reject the claim at a=0.05? Complete parts (a) through (e) below. Assume the population is normally distributed.
...
(c) Find the standardized test statistic t.
t= 1.33 (Round to two decimal places as needed.)
(d) Decide whether to reject or fail to reject the null hypothesis.
O A. Fail to reject Ho because the test statistic is in the rejection region(s).
O B. Reject Ho because the test statistic is in the rejection region(s).
Q C. Fail to reject Ho because the test statistic is not in the rejection region(s).
O D. Reject Ho because the test statistic is not in the rejection region(s).
(e) Interpret the decision in the context of the original claim.
O A. At the 5% level of significance, there is sufficient evidence to reject the claim that the mean price is not $24,000.
O B. At the 5% level of significance, there is not sufficient evidence to reject the claim that the mean price is not $24,000.
O C. At the 5% level of significance, there is not sufficient evidence to reject the claim that the mean price is $24,000.
O D. At the 5% level of significance, there is sufficient evidence to reject the claim that the mean price is $24,000.
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Transcribed Image Text: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 24 similar vehicles has a mean price of $24 521 and a standard deviation of $1913. Is there enough evidence to reject the claim at a=0.05? Complete parts (a) through (e) below. Assume the population is normally distributed. ... (c) Find the standardized test statistic t. t= 1.33 (Round to two decimal places as needed.) (d) Decide whether to reject or fail to reject the null hypothesis. O A. Fail to reject Ho because the test statistic is in the rejection region(s). O B. Reject Ho because the test statistic is in the rejection region(s). Q C. Fail to reject Ho because the test statistic is not in the rejection region(s). O D. Reject Ho because the test statistic is not in the rejection region(s). (e) Interpret the decision in the context of the original claim. O A. At the 5% level of significance, there is sufficient evidence to reject the claim that the mean price is not $24,000. O B. At the 5% level of significance, there is not sufficient evidence to reject the claim that the mean price is not $24,000. O C. At the 5% level of significance, there is not sufficient evidence to reject the claim that the mean price is $24,000. O D. At the 5% level of significance, there is sufficient evidence to reject the claim that the mean price is $24,000. Next Textbook Calculator 7:58 PM 64°F 12/6/2021 T23 Type here to search (99+ 10/05/17 DO521 AU F5 PrtSc Insert Delete FO F8 F9 F12 F10 FIT 6 Backspace Num Lock E T Y Home S. G H. J K L Enter B +II V. * CO M LLI
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