Answered: You want to buy a specific computer. A…

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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Question

You want to buy a specific computer. A sales representative of the manufacturer claims that retail stores sell this computer at an average price of $1,249 with a very narrow standard deviation of $25. You find a website that has a price comparison for the same computer at a series of stores as follows: $1,297; $1,229.95; $1,193.07; $1,279; $1,224.95; $1,229.95; $1,269.97; $1,245. Can you argue that pricing has a larger standard deviation than claimed by the manufacturer? Use the 5% significance level. As a potential buyer, what would be the practical conclusion from your analysis?

Part (a)

State the null hypothesis.

H₀: ?² ≥ 25²

H₀: ?² < 25²

H₀: ?² > 25²

H₀: ?² = 25²
Part (b)

State the alternative hypothesis.

H_a: ?² > 25²

H_a: ?² < 25²

H_a: ?² ≤ 25

H_a: ?² ≠ 25
Part (c)

What are the degrees of freedom? (Enter an exact number as an integer, fraction, or decimal.)
=
Part (d)

State the distribution to use for the test.

t₈

t₇

?²₈

?²₇
Part (e)

What is the test statistic? (Round your answer to two decimal places.)

=