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The mean price for used cars is $10,769. A manager of a Kansas City used car dealership reviewed a sample of 50 recent used car sales at the dealership in an attempt to determine whether the population mean price for used cars at this particular dealership differed from the national mean. The prices for the sample of 50 cars are contained in the Excel Online file below. Construct a spreadsheet to answer the following questions. X

The mean price for used cars is $10,769. A manager of a Kansas City used car dealership reviewed a sample of 50 recent used car sales at the dealership in an attempt to determine whether the population mean price for used cars at this particular dealership differed from the national mean. The prices for the sample of 50 cars are contained in the Excel Online file below. Construct a spreadsheet to answer the following questions. X

MATLAB: An Introduction with Applications
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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с Sample Size Sample Mean (to the whole number) Sample Standard Deviation (to the whole number) Hypothesized Mean Test Statistic (3 decimals) Degrees of Freedom p-value (4 decimals) Level of Significance (Alpha) Reject Null Hypothesis? Can conclude the population mean price at this dealership differs from the national mean price? D 50 10769 0.05 E Formulas F #N/A #N/A #N/A #N/A #N/A #N/A #N/A G
Transcribed Image Text:с Sample Size Sample Mean (to the whole number) Sample Standard Deviation (to the whole number) Hypothesized Mean Test Statistic (3 decimals) Degrees of Freedom p-value (4 decimals) Level of Significance (Alpha) Reject Null Hypothesis? Can conclude the population mean price at this dealership differs from the national mean price? D 50 10769 0.05 E Formulas F #N/A #N/A #N/A #N/A #N/A #N/A #N/A G
Video The mean price for used cars is $10,769. A manager of a Kansas City used car dealership reviewed a sample of 50 recent used car sales at the dealership in an attempt to determine whether the population mean price for used cars at this particular dealership differed from the national mean. The prices for the sample of 50 cars are contained in the Excel Online file below. Construct a spreadsheet to answer the following questions. X Open spreadsheet a. Formulate the hypotheses that can be used to determine whether a difference exists in the mean price for used cars at the dealership. Ho : μ Hap t b. What are the test statistic and the p-value? Do not round intermediate calculations. Ⓒ $10,769 Ⓒ $10,769 p-value (to 3 decimals) (to 4 decimals) c. At a = 0.05, what is your conclusion? the null hypothesis. We have Check My Work Reset Problem ✪ evidence to conclude that the population mean price at this dealership differs from the national mean price of $10,769.
Transcribed Image Text:Video The mean price for used cars is $10,769. A manager of a Kansas City used car dealership reviewed a sample of 50 recent used car sales at the dealership in an attempt to determine whether the population mean price for used cars at this particular dealership differed from the national mean. The prices for the sample of 50 cars are contained in the Excel Online file below. Construct a spreadsheet to answer the following questions. X Open spreadsheet a. Formulate the hypotheses that can be used to determine whether a difference exists in the mean price for used cars at the dealership. Ho : μ Hap t b. What are the test statistic and the p-value? Do not round intermediate calculations. Ⓒ $10,769 Ⓒ $10,769 p-value (to 3 decimals) (to 4 decimals) c. At a = 0.05, what is your conclusion? the null hypothesis. We have Check My Work Reset Problem ✪ evidence to conclude that the population mean price at this dealership differs from the national mean price of $10,769.
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