Suppose that BC financial aid alots a textbook stipend by claiming that the average textbook at BC bookstore costs $ 93.29. You want to test this claim. The null and alternative hypothesis in symbols would be: O Ho:p < 93.29 H1:p > 93.29 Ο Η: μ > 93.29 H1:µ < 93.29 O Ho:p= 93.29 H1:p + 93.29 О Но:р 2 93.29 Н:р < 93.29 Ο Η : μ 93.29 H1:µ + 93.29 O Ho:u < 93 29

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### Hypothesis Testing in Statistics

#### Problem Statement

Suppose that BC financial aid allots a textbook stipend by claiming that the average textbook at BC bookstore costs $93.29. You want to test this claim.

#### Formulating the Hypothesis

The null and alternative hypotheses in symbols would be:

- \( \mathbf{H_0: p \leq 93.29} \) 
  \( \mathbf{H_1: p > 93.29} \)

- \( \mathbf{H_0: \mu \geq 93.29} \) 
  \( \mathbf{H_1: \mu < 93.29} \)

- \( \mathbf{H_0: p = 93.29} \) 
  \( \mathbf{H_1: p \neq 93.29} \)

- \( \mathbf{H_0: p \geq 93.29} \) 
  \( \mathbf{H_1: p < 93.29} \)

- \( \mathbf{H_0: \mu = 93.29} \) 
  \( \mathbf{H_1: \mu \neq 93.29} \)

- \( \mathbf{H_0: \mu \leq 93.29} \) 
  \( \mathbf{H_1: \mu > 93.29} \)

#### Determining the Null Hypothesis in Words

The null hypothesis in words would be:

- \( \mathbf{\circ} \) The average price of all textbooks from the store is $93.29
- \( \mathbf{\circ} \) The average price of textbooks in a sample is $93.29
- \( \mathbf{\circ} \) The average price of all textbooks from the store is greater than $93.29.
- \( \mathbf{\circ} \) The average price of all textbooks from the store is less than $93.29.
- \( \mathbf{\circ} \) The proportion of all textbooks from the store that are less than 93.29 is equal to 50%

#### Statistical Analysis

Based on a sample of 150 textbooks at the store, you find an average of 101.49 and a standard deviation of 17.

The point estimate is: __________ (to 3 decimals)

#### Explanation of Graphs or Diagrams
Transcribed Image Text:### Hypothesis Testing in Statistics #### Problem Statement Suppose that BC financial aid allots a textbook stipend by claiming that the average textbook at BC bookstore costs $93.29. You want to test this claim. #### Formulating the Hypothesis The null and alternative hypotheses in symbols would be: - \( \mathbf{H_0: p \leq 93.29} \) \( \mathbf{H_1: p > 93.29} \) - \( \mathbf{H_0: \mu \geq 93.29} \) \( \mathbf{H_1: \mu < 93.29} \) - \( \mathbf{H_0: p = 93.29} \) \( \mathbf{H_1: p \neq 93.29} \) - \( \mathbf{H_0: p \geq 93.29} \) \( \mathbf{H_1: p < 93.29} \) - \( \mathbf{H_0: \mu = 93.29} \) \( \mathbf{H_1: \mu \neq 93.29} \) - \( \mathbf{H_0: \mu \leq 93.29} \) \( \mathbf{H_1: \mu > 93.29} \) #### Determining the Null Hypothesis in Words The null hypothesis in words would be: - \( \mathbf{\circ} \) The average price of all textbooks from the store is $93.29 - \( \mathbf{\circ} \) The average price of textbooks in a sample is $93.29 - \( \mathbf{\circ} \) The average price of all textbooks from the store is greater than $93.29. - \( \mathbf{\circ} \) The average price of all textbooks from the store is less than $93.29. - \( \mathbf{\circ} \) The proportion of all textbooks from the store that are less than 93.29 is equal to 50% #### Statistical Analysis Based on a sample of 150 textbooks at the store, you find an average of 101.49 and a standard deviation of 17. The point estimate is: __________ (to 3 decimals) #### Explanation of Graphs or Diagrams
### Hypothesis Testing for Textbook Prices

**Initial Hypothesis:**
- The proportion of all textbooks from the store that are less than 93.29 is equal to 50%.

**Data from Sample:**
- Sample size (n): 150 textbooks
- Sample mean (\(\bar{x}\)): 101.49
- Sample standard deviation (s): 17

**Point Estimate:**
- The point estimate is: [_________] (to 3 decimals)

**Confidence Interval Calculation:**
- The 99% confidence interval (using z\* value) is from [_________] to [_________] (to 3 decimals).

**Decision Based on Hypothesis Testing:**
- Based on this we:
  - O Reject the null hypothesis
  - O Fail to reject the null hypothesis

This section explores hypothesis testing and the construction of confidence intervals in statistics. By analyzing the average price of textbooks from a sample, it provides a practical application of statistical techniques. Users are prompted to compute point estimates and confidence intervals using the given data, thereby enhancing their understanding of inferential statistics.
Transcribed Image Text:### Hypothesis Testing for Textbook Prices **Initial Hypothesis:** - The proportion of all textbooks from the store that are less than 93.29 is equal to 50%. **Data from Sample:** - Sample size (n): 150 textbooks - Sample mean (\(\bar{x}\)): 101.49 - Sample standard deviation (s): 17 **Point Estimate:** - The point estimate is: [_________] (to 3 decimals) **Confidence Interval Calculation:** - The 99% confidence interval (using z\* value) is from [_________] to [_________] (to 3 decimals). **Decision Based on Hypothesis Testing:** - Based on this we: - O Reject the null hypothesis - O Fail to reject the null hypothesis This section explores hypothesis testing and the construction of confidence intervals in statistics. By analyzing the average price of textbooks from a sample, it provides a practical application of statistical techniques. Users are prompted to compute point estimates and confidence intervals using the given data, thereby enhancing their understanding of inferential statistics.
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