Question

1. The mean cost of a steak, broccoli, and ride at the grocery store is $13.04....

1. The mean cost of a steak, broccoli, and ride at the grocery store is $13.04. A sample of 100 restaurants had a mean price of $12.75 and a standard deviation of $2 for the same meal. Run a hypothesis test to determine if it is cheaper to eat at a restaurant than to cook the meal yourself!

Math   Statistics-And-Probability   
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Answer #1

Solution :

= $13.04

=$12.75

=$2

n = 100

This is the two tailed test .

The null and alternative hypothesis is ,

H0 :   = 13.04

Ha :     13.04

Test statistic = z

= ( - ) / / n

= (12.75-13.04) /2 / 100

= −1.45

P-value = 0.1471

There is eat at a restaurant

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