Question
An automotive dealer advertised in Auto-Trend Magazine that the cost of a hybrid car was less...
|
An automotive dealer advertised in Auto-Trend Magazine that the cost of a hybrid car was less than $10,000. Listed below is a total cost in $000 for a sample of 8 hybrid cars. At the .05 significance level, is it reasonable to conclude the mean cost of a hybrid car is less than $10,000? |
|
10.1 |
9.8 |
8.8 |
10.3 |
9.0 |
9.7 |
8.5 |
8.6 |
| (A) |
State the null hypothesis and the alternate hypothesis. Use a .05 level of significance. (Enter your answers in thousands of dollars.) |
| H0: μ ≥ | ______ |
| H1: μ < | ______ |
| (B) |
State the decision rule for .05 significance level. (Negative amount should be indicated by a minus sign.Round your answer to 3 decimal places.) |
| Reject H0 if t < | ______________ |
| (C) |
Compute the value of the test statistic. (Negative amount should be indicated by a minus sign. Round your answer to 3 decimal places.) |
| Value of the test statistic: | ___________ |
| (D) |
At the .05 significance level is it reasonable to conclude the mean wedding cost is less than $10,000 as advertised? |
Homework Answers
Answer #1
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