For each question, find: Hypotheses   Type of test, level of significance  Test statistic  P-value  Conclusion 1. It is claimed that the mean length of time car owners keep their car is 7.5 years.  When 100 randomly selected car owners are polled, it is found that the mean length of time they plan to keep their car is 7.01 years, with a standard deviation of 3.74.  At a 1 % level of significance, test if car owners now keep their car for less time.

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
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  For each question, find:

  1. Hypotheses  
  2. Type of test, level of significance 
  3. Test statistic 
  4. P-value 
  5. Conclusion

1. It is claimed that the mean length of time car owners keep their car is 7.5 years.  When 100 randomly selected car owners are polled, it is found that the mean length of time they plan to keep their car is 7.01 years, with a standard deviation of 3.74.  At a 1 % level of significance, test if car owners now keep their car for less time.



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