The owner of Prices Limited claims that 75% of all items in the store are 1 point less than $5. Suppose you check a random sample of 146 items and find that 105 have prices less than $5.Test the claim at the .01 level of significance. 12. Based on your answers above, what is your conclusion? (a) Do not reject Ho (b) Reject He (c) Cannot determine O A O c O B

The owner of Prices Limited claims that 75% of all items in the store are 1 point less than $5. Suppose you check a random sample of 146 items and find that 105 have prices less than $5.Test the claim at the .01 level of significance. 12. Based on your answers above, what is your conclusion? (a) Do not reject Ho (b) Reject He (c) Cannot determine O A O c O B

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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The median price of homes in in a certain city was $228,830. A sample of 200 homes sold in a suburb of the city found 113 homes with sales prices over $228,830 and 87 homes with sales prices under $228,830. Can you conclude that the median price of homes in the suburb differs from the median price of homes in the entir city? Use a = 0.05. State the null and alternative hypotheses. O Ho: Median # 228,830 H₂: Median = 228,830 O Ho: Median 2 228,830 H₂: Median 228,830 O Ho: Median > 228,830 H₂: Median = 228,830 Find the value of the test statistic. (Round your answer to two decimal places.) z = Find the p-value. (Round your answer to four decimal places.) p-value = State your conclusion. O Do not reject Ho. There is sufficient evidence to conclude that the median price of homes in the suburb differs significantly from $228,830. Do not reject Ho. There is not sufficient evidence to conclude that the median price of homes in the suburb differs significantly from $228,830. O Reject Ho.…
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