The price of a certain combo meal at different franchises of a national fast food company varies from $5.00 to $17.38 and has a known standard deviation of $2.13. A sample of 29 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 0.05. Is there sufficient evidence at the 0.05 level of significance that the population mean is less than $6.50? Determine the null hypothesis, Ho, and the alternative hypothesis, H, Ho: H 2 6.50 < 6.50 (Type integers or decimals. Do not round.) H,: H Compute the test statistic. - 1.90 (Round to two decimal places as needed.) Find the p-value for the test.

The price of a certain combo meal at different franchises of a national fast food company varies from $5.00 to $17.38 and has a known standard deviation of $2.13. A sample of 29 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 0.05. Is there sufficient evidence at the 0.05 level of significance that the population mean is less than $6.50? Determine the null hypothesis, Ho, and the alternative hypothesis, H, Ho: H 2 6.50 < 6.50 (Type integers or decimals. Do not round.) H,: H Compute the test statistic. - 1.90 (Round to two decimal places as needed.) Find the p-value for the test.

Np Ms Office 365/Excel 2016 I Ntermed

1st Edition

ISBN:9781337508841

Author:Carey

Publisher:Carey

Chapter6: Managing Multiple Worksheets And Workbooks

Section: Chapter Questions

Problem 2.3CP

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