Suppose that the average number of miles that a car is driven in the first three years is 41,500. To determine whethe leased cars are driven more than "average", 25 leased cars were sampled and the average number of miles on the leased cars was 43,780 with a standard deviation of 10,520. To determine whether the average number of miles on leased cars is statistically significantly greater than the number of miles on other cars (using the 5% level of significance), what is the critical value? (please round your answer to 3 decimal places)
Suppose that the average number of miles that a car is driven in the first three years is 41,500. To determine whethe leased cars are driven more than "average", 25 leased cars were sampled and the average number of miles on the leased cars was 43,780 with a standard deviation of 10,520. To determine whether the average number of miles on leased cars is statistically significantly greater than the number of miles on other cars (using the 5% level of significance), what is the critical value? (please round your answer to 3 decimal places)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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