Question

# For a certain group of individuals, the average cost of a trip to last year's Super...

For a certain group of individuals, the average cost of a trip to last year's Super Bowl was \$875. The standard deviation was \$50. This year, 49 fans who scheduled the trip paid an average of \$890 for the trip. Test the claim that the average cost this year is greater than last year's cost. Use the p-value method with α = 0.01. Use Z.

1. Calculate the value of the test statistic. Enter your answer as a number rounded to two digits after the decimal point

2. What is the value of the p-value? Using the appropriate statistical table, enter this answer as a number rounded to four digits after the decimal point.

3. following is the proper conclusion to the hypothesis test?

Let be the population mean of the cost of last years Super bowl trip.

To test

vs

1)

Test statistic

2)

P-value is given by

3)

At 1% LOS we accept the null hypothesis as the p-value is greater than 0.01 which implies that we do not have enough evidence to claim that the average price of the trip has increased.

Thank you !!

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