Model N Мean Median Tri.Mean Std Dev S.E. Mean Hyundai Тoyota 23 109 135 107.64 * 1.34 27 165 124 143.65 9.5 ** e) 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.

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Exhibit 2
Model
Mean
Median
Tri.Mean
Std Dev
S.E. Mean
Нyundai
23
109
135
107.64
*
1.34
**
Тоyota
27
165
124
143.65
9.5
e) 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:
iv. State the decision rule.
v. Give your decision based on the available sample evidence.
vi. Hence, state your conclusion.
Transcribed Image Text:Exhibit 2 Model Mean Median Tri.Mean Std Dev S.E. Mean Нyundai 23 109 135 107.64 * 1.34 ** Тоyota 27 165 124 143.65 9.5 e) 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: iv. State the decision rule. v. Give your decision based on the available sample evidence. vi. Hence, state your conclusion.
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