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Name: You are required to test at the 5% level of significance the hypothesi
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Description: You are required to test at the 5% level of significance the hypothesis that the average monthly earnings on Hyundai Vehicles is equal to $110,000 versus the alternative that it is different from $110,000. Complete the following: i. Give the null and

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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You are required to test at the 5% level of significance the hypothesis that the average monthly earnings on Hyundai Vehicles is equal to $110,000 versus the alternative that it is different from $110,000.

Complete the following:

i. Give the null and alternative hypothesis of thos test.

ii. Determine the critical value(s) of this test.

iii. Compute the value of the test statistic.

Transcribed Image Text:A car company wants to know the monthly sales made in ($000), based on the brand of vehicle The data collected was entered on a MINITAB spreadsheet for analysis. Exhibit II below was subsequently generated. Exhibit 2 Model N Mean Median Tri.Mean Std Dev S.E. Mean 135 Hyundai Тоyota 23 109 107.64 1.34 27 165 124 143.65 9.5 **

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