Answered: The following are prices of a sanitizer…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Question

The following are prices of a sanitizer sold at a few selected stores in a District A during the
COVID-19 pandemic. Based on the sample data, at 0.05 level of significance, can we
conclude the average price of the sanitizer in District A is RM10.50? Make your conclusion
using the p-value approach, with the aid of Microsoft Office EXCEL.

RM10.00, RM11.50, RM9.70, RM11.20, RM10.70, RM10.20, RM9.70

Expert Solution

Step 1

Given:

$s a m p l e s i z e (n) = 7$

Sample mean:

$\begin{array}{rcl} x & = & \frac{\sum_{i = 1}^{n} x_{i}}{n} \\ = & \frac{73}{7} \\ = & 10.42857 \end{array}$

Sample standard deviation (s):

$\begin{array}{rcl} s & = & \sqrt{\frac{\sum_{i = 1}^{n} {(x_{i} - x)}^{2}}{n - 1}} \\ = & \sqrt{\frac{3.114285714}{7 - 1}} \\ = & 0.72045 \end{array}$

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