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
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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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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