Question

A Rollercoaster’s auditors estimate that the average daily loss from those illegally riding without tickets is...

A Rollercoaster’s auditors estimate that the average daily loss from those illegally riding without tickets is at least (greater or equal) $250, but wants to determine the accuracy of this statistic. The company researcher takes a random sample of losses over 81 days and finds that = $248 and s = $15. a) Test at α = 0.02. b) Construct a 90% confidence interval of losses Note: a and b are independent.

Steps to be covered:

  1. state the hypothesis and identify the claim
  2. find the critical value from the table and mention the acceptance range for H0
  3. compute the test value
  4. make the decision to reject or not the null hypothesis
Math   Statistics-And-Probability   
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