In the past, the mean age of consumers of a product was 38 years. Recently the product has been drastically changed. In order to determine whether there has been a change in the mean age of the product consumers, a sample of 16 consumers is selected. The mean age in the sample is 33 years and the standard deviation in the sample is 10 years. Let p = the mean age of the current product consumers. At a 1% significance level one can conclude that O a. The mean age of the product consumers is unchanged O b. The mean age of the product consumers has increased OC. The mean age of the product consumers has changed Od. Cannot tell from the information provided

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(Problem Set #7)
In the past, the mean age of consumers of a product was 38 years. Recently the product has been drastically
changed. In order to determine whether there has been a change in the mean age of the product consumers, a
sample of 16 consumers is selected. The mean age in the sample is 33 years and the standard deviation in the
sample is 10 years. Let u = the mean age of the current product consumers.
At a 1% significance level one can conclude that
O a. The mean age of the product consumers is unchanged
O b. The mean age of the product consumers has increased
OC. The mean age of the product consumers has changed
O d. Cannot tell from the information provided
Transcribed Image Text:(Problem Set #7) In the past, the mean age of consumers of a product was 38 years. Recently the product has been drastically changed. In order to determine whether there has been a change in the mean age of the product consumers, a sample of 16 consumers is selected. The mean age in the sample is 33 years and the standard deviation in the sample is 10 years. Let u = the mean age of the current product consumers. At a 1% significance level one can conclude that O a. The mean age of the product consumers is unchanged O b. The mean age of the product consumers has increased OC. The mean age of the product consumers has changed O d. Cannot tell from the information provided
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