The cost of a car is $30k at Joe's Garage. You cant to see if the cost is lower at Pete's Garage. To test, you collect data from 64 buyers who recently bought cars. The average of your sample is $29,760, with a sample standard deviation of $7,450. Using this data to perform the hypothesis test with H0: u=30,000 vs H0:u<30,000, what is the p-value of this test, and what is the conclusion of this test at the a=.05 level?

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The cost of a car is $30k at Joe's Garage. You cant to see if the cost is lower at Pete's Garage. To test, you collect data from 64 buyers who recently bought cars. The average of your sample is $29,760, with a sample standard deviation of $7,450.

Using this data to perform the hypothesis test with H0: u=30,000 vs H0:u<30,000, what is the p-value of this test, and what is the conclusion of this test at the a=.05 level?

 

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