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1. A car dealer claims that the average price of Honda Vios is at least 662,000.00. A client suspected that the claim is incorrect and found that random sample of 15 similar vehicles has the mean price of $640,000.00 and standard deviation of 24,000.00. Is there enough evidence to reject the dealer's claim at x = 0.05? From the given problem #1 discuss the following: 1. define and illustrate the nullI hypothesis, alternative hypothesis, level of significance. (Provide explanation) 2. identify the parameter to be tested. (Provide Explanation) 3. identify the appropriate form of test statistics. (Provide Explanation)

1. A car dealer claims that the average price of Honda Vios is at least 662,000.00. A client suspected that the claim is incorrect and found that random sample of 15 similar vehicles has the mean price of $640,000.00 and standard deviation of 24,000.00. Is there enough evidence to reject the dealer's claim at x = 0.05? From the given problem #1 discuss the following: 1. define and illustrate the nullI hypothesis, alternative hypothesis, level of significance. (Provide explanation) 2. identify the parameter to be tested. (Provide Explanation) 3. identify the appropriate form of test statistics. (Provide Explanation)

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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1. A car dealer claims that the average price of Honda Vios is at least 662,000.00. A client suspected that the claim is incorrect and found that random sample of 15 similar vehicles has the mean price of $640,000.00 and standard deviation of 24,000.00. Is there enough evidence to reject the dealer's claim at x = 0.05? From the given problem #1 discuss the following: 1. define and illustrate the nulI hypothesis, alternative hypothesis, level of significance. (Provide explanation) 2. identify the parameter to be tested. (Provide Explanation) 3. identify the appropriate form of test statistics. (Provide Explanation) 4. identify the rejection and non-rejection regions and the critical values. (Provide Explanation) 5. Make a conclusion base from the result you obtain (Some of the examples can be found in 4th quarter module 1). (Provide Explanation) 6. identify if it is a Type I and Type Il errors in claims and decisions (Provide Explanation)
Transcribed Image Text:1. A car dealer claims that the average price of Honda Vios is at least 662,000.00. A client suspected that the claim is incorrect and found that random sample of 15 similar vehicles has the mean price of $640,000.00 and standard deviation of 24,000.00. Is there enough evidence to reject the dealer's claim at x = 0.05? From the given problem #1 discuss the following: 1. define and illustrate the nulI hypothesis, alternative hypothesis, level of significance. (Provide explanation) 2. identify the parameter to be tested. (Provide Explanation) 3. identify the appropriate form of test statistics. (Provide Explanation) 4. identify the rejection and non-rejection regions and the critical values. (Provide Explanation) 5. Make a conclusion base from the result you obtain (Some of the examples can be found in 4th quarter module 1). (Provide Explanation) 6. identify if it is a Type I and Type Il errors in claims and decisions (Provide Explanation)
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