Based on a sample of 63 cars, you find the average price of the sample of cars on the lot to be $13345 c.) This hypothesis test is for the... Proportion using the Z-test statistic Mean with the population standard deviation unknown using the t-test statistic Proportion using the t-test statistic Mean with the poulation standard deviation known using the t-test statistic Mean with the population standard deviation unknown using the Z-test statistic Mean with the population standard deviation known using the Z-test statistic d.) The test statistic is:___(to 2 decimals) e.) At α=α=0.1, the critical value is:±(to 3 decimals) f.) Based on this we: Reject the null hypothesis. There is enough evidence to support the car dealer's claim that the average price of cars on his lot is not equal to $13600 Reject the null hypothesis. There is enough evidence to reject the car dealer's claim that the average price of cars on his lot is not equal to $13600 Fail to reject the null hypothesis. There is NOT enough evidence to support the car dealer's claim that the average price of cars on his lot is not equal to $13600 Fail to reject the null hypothesis. There is NOT enough evidence to reject the car dealer's claim that the average price of cars on his lot is not equal to $13600

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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Based on a sample of 63 cars, you find the average price of the sample of cars on the lot to be $13345

c.) This hypothesis test is for the...

Proportion using the Z-test statistic
Mean with the population standard deviation unknown using the t-test statistic
Proportion using the t-test statistic
Mean with the poulation standard deviation known using the t-test statistic
Mean with the population standard deviation unknown using the Z-test statistic
Mean with the population standard deviation known using the Z-test statistic

d.) The test statistic is:___________(to 2 decimals)

e.) At α=α=0.1, the critical value is:±________(to 3 decimals)

f.) Based on this we:

Reject the null hypothesis. There is enough evidence to support the car dealer's claim that the average price of cars on his lot is not equal to $13600
Reject the null hypothesis. There is enough evidence to reject the car dealer's claim that the average price of cars on his lot is not equal to $13600
Fail to reject the null hypothesis. There is NOT enough evidence to support the car dealer's claim that the average price of cars on his lot is not equal to $13600
Fail to reject the null hypothesis. There is NOT enough evidence to reject the car dealer's claim that the average price of cars on his lot is not equal to $13600

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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