The price of a certain combo meal at different franchises of a national fast food company varies from $5.00 to $17 33 and has a known standard deviation of $2.21 A sample of 26 students in an online course that includes students across the country stated that their average price is $5.75 The students have also stated that they are generally unwilling to pay more than $6 50 for this meal Formulate and conduct a hypothesis test to determine if you can conclude that the population mean is less than $6.50. Use a level of significance of 0.01 Is there sufficient evidence at the 001 level of significance that the population mean is less than $6 50? Determine the null hypothesis, Ho, and the alternative hypothesis, H, Họ H1 (Type integers or decimals. Do not round)
The price of a certain combo meal at different franchises of a national fast food company varies from $5.00 to $17 33 and has a known standard deviation of $2.21 A sample of 26 students in an online course that includes students across the country stated that their average price is $5.75 The students have also stated that they are generally unwilling to pay more than $6 50 for this meal Formulate and conduct a hypothesis test to determine if you can conclude that the population mean is less than $6.50. Use a level of significance of 0.01 Is there sufficient evidence at the 001 level of significance that the population mean is less than $6 50? Determine the null hypothesis, Ho, and the alternative hypothesis, H, Họ H1 (Type integers or decimals. Do not round)
MATLAB: An Introduction with Applications
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![The price of a certain combo meal at different franchises of a national fast food company varies from $5.00 to $17.33 and has a known standard deviation of $2.21. A sample of 26 students in an online course that includes students across the
country stated that their average price is $5.75. The students have also stated that they are generally unwilling to pay more than $6.50 for this meal. Formulate and conduct a hypothesis test to determine if you can conclude that the population mean
is less than $6.50. Use a level of significance of 0.01.
Is there sufficient evidence at the 0.01 level of significance that the population mean is less than $6.50?
Determine the null hypothesis, Ho, and the alternative hypothesis, H1.
Ho
(Type integers or decimals. Do not round.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F12ad9125-cf91-45ab-8079-a8a3d183c967%2Fadca56b8-0414-4cbc-b663-bc7d5a4bb9f0%2Fbcck1de_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The price of a certain combo meal at different franchises of a national fast food company varies from $5.00 to $17.33 and has a known standard deviation of $2.21. A sample of 26 students in an online course that includes students across the
country stated that their average price is $5.75. The students have also stated that they are generally unwilling to pay more than $6.50 for this meal. Formulate and conduct a hypothesis test to determine if you can conclude that the population mean
is less than $6.50. Use a level of significance of 0.01.
Is there sufficient evidence at the 0.01 level of significance that the population mean is less than $6.50?
Determine the null hypothesis, Ho, and the alternative hypothesis, H1.
Ho
(Type integers or decimals. Do not round.)
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