Question

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. 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) Choose the appropriate hypotheses for a test to determine whether the sample data support the conclusion that the mean cost of a restaurant meal is less than fixing a comparable meal at home. H0: Ha: (b) Using the sample from the 100 restaurants, what is the p value? If required, round your answer to four decimal places. (c) At α = 0.05, what is your conclusion? We the null hypothesis. We conclude that the cost of a restaurant meal is significantly cheaper than a comparable meal fixed at home.

Answer 1

from above:

a)

null hypothesis Ho:		μ	=	13.04
Alternate Hypothesis Ha:		μ	<	13.04

b) p value =0.0735 ( please try 0.0751 if this comes wrong and revert)

c)

as p value is higher than 0.05 we fail to reject null .

we can not conclude that cost of a restaurant meal is significantly cheaper than a comparable meal fixed at home.