Question

A consumer product magazine recently ran a story concerning the increasing prices of digital cameras. The story stated that digital camera prices dipped a couple of years ago, but now are beginning to increase in price because of added features. According to the story, the average price of all digital cameras a couple of years ago was $215.00. A random sample of n = 200 cameras was recently taken and entered into a spreadsheet, the average was 290 with standard deviation 30. It was desired to test to determine if that average price of all digital cameras is now more than $215.00. ?=0.1 ( p value method)

Answer 1