Which is cheaper: eating out or dining in? The mean cost of a flank šteak, broccoli, and rice bought at the grocery store is $13.04 (Money.msn website, November 7, 2012). A sample of 100 neighborhood restaurants showed a mean price of $12.75 and a standard deviation of $2 for a comparable restaurant meal. a. Develop appropriate hypotheses for a test to determine whether the sample data sup- port the conclusion that the mean cost of a restaurant meal is less than fixing a com- parable meal at home. b. Using the sample from the 100 restaurants, what is the p-value? At a = d. Repeat the preceding hypothesis test using the critical value approach. 27. c. .05, what is your conclusion?
Which is cheaper: eating out or dining in? The mean cost of a flank šteak, broccoli, and rice bought at the grocery store is $13.04 (Money.msn website, November 7, 2012). A sample of 100 neighborhood restaurants showed a mean price of $12.75 and a standard deviation of $2 for a comparable restaurant meal. a. Develop appropriate hypotheses for a test to determine whether the sample data sup- port the conclusion that the mean cost of a restaurant meal is less than fixing a com- parable meal at home. b. Using the sample from the 100 restaurants, what is the p-value? At a = d. Repeat the preceding hypothesis test using the critical value approach. 27. c. .05, what is your conclusion?
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:27. Which is cheaper: eating out or dining in? The mean cost of a flank steak, broccoli, and rice
bought at the grocery store is $13.04 (Money.msn website, November 7, 2012). A sample of
100 neighborhood restaurants showed a mean price of $12.75 and a standard deviation of $2
for a comparable restaurant meal.
a. Develop appropriate hypotheses for a test to determine whether the sample data
port the conclusion that the mean cost of a restaurant meal is less than fixing a com-
st
sup-
parable meal at home.
b. Using the sample from the 100 restaurants, what is the p-value?
At a = .05, what is your conclusion?
Repeat the preceding hypothesis test using the critical value approach.
с.
||
d.
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