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Name: The price of a certain combo meal at different franchises of a nationa
Uploaded: 2024-03-20T07:07:12.000Z
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Description: The price of a certain combo meal at different franchises of a national fast food company varies from $5 to $17.34 & has a known standard deviation of $2.25. A sample of 26 students in an online course that includes students across the country stated

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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The price of a certain combo meal at different franchises of a national fast food company varies from $5 to $17.34 & has a known standard deviation of $2.25. A sample of 26 students in an online course that includes students across the country stated that their average price is $5.50. The students have also stated that they are generally unwilling to pay more than $6.25 for a meal. Formulate & conduct a hypothesis test to determine if you can conclude that the population mean is less than $6.25. Use the level of significance of 0.01.

Is there sufficient evidence at 0.01 level of significance that the population mean is less than $6.25?

Determine the null hypothesis, H o & the alternative hypothesis, h1 see attachment

Ho
(Type integers or decimals. Do not round.)

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