A tire store advertises that the average price of a new set of their tires is only $150. One of their recent customers believes their advertised average is too low – that the true mean price for a set of tires exceeds $150. He plans to carry out a hypothesis test at α = 0.05. In order to perform the test, the customer took an SRS of 8 sets of tires recently sold. The mean of these sets of tires was x̅ = $156.90 and the standard deviation was s = $11.80. Suppose the p-value of the test is found to be 0.0715 using statistical software. What is the appropriate conclusion at α = 0.05.
A tire store advertises that the average price of a new set of their tires is only $150. One of their recent customers believes their advertised average is too low – that the true mean price for a set of tires exceeds $150. He plans to carry out a hypothesis test at α = 0.05. In order to perform the test, the customer took an SRS of 8 sets of tires recently sold. The mean of these sets of tires was x̅ = $156.90 and the standard deviation was s = $11.80. Suppose the p-value of the test is found to be 0.0715 using statistical software. What is the appropriate conclusion at α = 0.05.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.1: Measures Of Center
Problem 9PPS
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A tire store advertises that the average price of a new set of their tires is only $150. One of their recent customers believes their advertised average is too low – that the true
Suppose the p-value of the test is found to be 0.0715 using statistical software. What is the appropriate conclusion at α = 0.05.
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