In a supermarket, the average cost of men's sport watch is RM 165. A manager takes a sample of 36 watches at random and found out that the mean is RM 178. Is there enough evidence to suggest that the price of watch is more than RM165? Assuming that the population standard deviation is 40, carry out a test at a) 5% significant level using classical approach b) 1% significant level using p-value approach

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 7PPS
icon
Related questions
Question
5. In a supermarket, the average cost of men's sport watch is RM 165. A manager takes a sample
of 36 watches at random and found out that the mean is RM 178. Is there enough evidence to
suggest that the price of watch is more than RM165? Assuming that the population standard
deviation is 40, carry out a test at
a) 5% significant level using classical approach
b) 1% significant level using p-value approach
Transcribed Image Text:5. In a supermarket, the average cost of men's sport watch is RM 165. A manager takes a sample of 36 watches at random and found out that the mean is RM 178. Is there enough evidence to suggest that the price of watch is more than RM165? Assuming that the population standard deviation is 40, carry out a test at a) 5% significant level using classical approach b) 1% significant level using p-value approach
Expert Solution
steps

Step by step

Solved in 4 steps

Blurred answer
Similar questions
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning