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country stated The price of a certain combo meal at different franchises of a national fast food company varies from $5.00 to $17.37 and has a known standard deviation 81 $2.02. A sample of 27 students in an online course that includes price is $5.50. The students have also stated that they are generally unwilling to pay more than $6.25 for this meal. Formulate and conduct a hypothesis test to determine if you can conclude that the population mean is less than $6.25. Use a level of significance of 0.0 Is there sufficient evidence at the 0.01 level of significance that the population mean less than $6.25? Determine the null hypothesis, Ho, and the alternative hypothesis, H, . H₂H 2 625 H₂H<6.25 (Type integers or decimals. Do not round.) Compute the test statistic. 1.93 (Round to two decimal places as needed.) C

country stated The price of a certain combo meal at different franchises of a national fast food company varies from $5.00 to $17.37 and has a known standard deviation 81 $2.02. A sample of 27 students in an online course that includes price is $5.50. The students have also stated that they are generally unwilling to pay more than $6.25 for this meal. Formulate and conduct a hypothesis test to determine if you can conclude that the population mean is less than $6.25. Use a level of significance of 0.0 Is there sufficient evidence at the 0.01 level of significance that the population mean less than $6.25? Determine the null hypothesis, Ho, and the alternative hypothesis, H, . H₂H 2 625 H₂H<6.25 (Type integers or decimals. Do not round.) Compute the test statistic. 1.93 (Round to two decimal places as needed.) C

A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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The price of a certain combo meal at different franchises of a national fast food company varies from $5.00 to $17.37 and has a known standard deviation of $2.02. A sample of 27 students in an online course that includes students across the country stated that their average price is $5.50. The students have also stated that they are generally unwilling to pay more than $6.25 for this meal. Formulate and conduct a hypothesis test to determine if you can conclude that the population mean is less than $6.25. Use a level of significance of 0.01 Is there sufficient evidence at the 0.01 level of significance that the population mean is less than $6.25? Determine the null hypothesis, Ho, and the alternative hypothesis, H₁. Ho p 26.25 H₂ μ 6.25 (Type integers or decimals. Do not round.) Compute the test statistic. 1.93 (Round to two decimal places as needed.)
Transcribed Image Text:The price of a certain combo meal at different franchises of a national fast food company varies from $5.00 to $17.37 and has a known standard deviation of $2.02. A sample of 27 students in an online course that includes students across the country stated that their average price is $5.50. The students have also stated that they are generally unwilling to pay more than $6.25 for this meal. Formulate and conduct a hypothesis test to determine if you can conclude that the population mean is less than $6.25. Use a level of significance of 0.01 Is there sufficient evidence at the 0.01 level of significance that the population mean is less than $6.25? Determine the null hypothesis, Ho, and the alternative hypothesis, H₁. Ho p 26.25 H₂ μ 6.25 (Type integers or decimals. Do not round.) Compute the test statistic. 1.93 (Round to two decimal places as needed.)
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