Question

The price of a box of all natural cereal obtained from 10 randomly selected supermarkets had a mean of $3.20 and a standard deviation of $0.50.

The numerical value of the t-statistic for testing the hypothesis H₀: μ = $3.00,    H_a: μ > $3.00 is t = 1.26. What can we say about the p-value of this test?

a. p < .05 b. p = .05                                 c. p > .05

What is the numerical value of t* for a 95% confidence interval for the average price of all natural cereal?

Answer 1

Now , the null and alternative hypothesis is ,

The test is one-tailed test.

Now , df=degrees of freedom=n-1=10-1=9

The p-value is ,

p-value= ; The Excel function is , =TDIST(1.26,9,1)

Here , a. p<0.05

The value of is ,

; The Excel function is , =TINV(0.05,9)