Question: Statistics A consumer group surveyed the prices for white cotton extra-long twin sheet sets in five different department stores and reported the average price as $16 with standard deviation $3.81. Assume that the population is normal and has a standard deviation equal to $3.81. A) Provide a 95% confidence interval in order to estimate the average price of the white cotton extra-long twin sheets. The multiplier is 1.96. ?̅± ? ∗ ?/ square root of ? = 16 ± 1.96 (3.81 /square root of (5) ) = $??.??, $??. ?? B) The consumer group is interested in seeing whether white cotton extra-long twin sheets cost 18 dollars on average. What would be your null and alternative hypotheses? H0: \mu = 18 Ha: \mu ≠ 18 8. Is there evidence that white cotton extra-long twin sheets do NOT cost $18 on average? NO – fail to reject the null hypothesis C) If the consumer group were to use a larger sample size, assuming all other values remain the same, we would expect the confidence interval to a. Wider b. Narrower c. Unable to determine without knowing the new sample size
Question: Statistics
A consumer group surveyed the prices for white cotton extra-long twin sheet sets in five different department stores and reported the average price as $16 with standard deviation $3.81. Assume that the population is normal and has a standard deviation equal to $3.81.
A) Provide a 95% confidence interval in order to estimate the average price of the white cotton extra-long twin sheets. The multiplier is 1.96. ?̅± ? ∗ ?/ square root of ? = 16 ± 1.96 (3.81 /square root of (5) )
= $??.??, $??. ??
B) The consumer group is interested in seeing whether white cotton extra-long twin sheets cost 18 dollars on average. What would be your null and alternative hypotheses?
H0: \mu = 18
Ha: \mu ≠ 18 8.
Is there evidence that white cotton extra-long twin sheets do NOT cost $18 on average?
NO – fail to reject the null hypothesis
C) If the consumer group were to use a larger
a. Wider
b. Narrower
c. Unable to determine without knowing the new sample size
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