A used car dealer says that the mean price of a three-year-old sports utility vehicle is $21,000. You suspect this claim is incorrect and find that a randomsample of 24 similar vehicles has a mean price of $21,825 and a standard deviation of $1902. Is there enough evidence to reject the claim at a = 0.05?Complete parts (a) through (e) below. Assume the population is normally distributed.nuuIiu U UIICE uLIIiai piaces as TIttutu.)O A. tOC.(c) Find the standardized test statistic t.=1(Round to two decimal places as needed.)(d) Decide whether to reject or fail to reject the null hypothesis.O A. Reject H, because the test statistic is in the rejection region(s).O B. Fail to reject Ho because the test statistic is in the rejection region(s).O C. Reject H, because the test statistic is not in the rejection region(s).O D. Fail to reject Ho because the test statistic is not in the rejection region(s).(e) Interpret the decision in the context of the original claim.O A. At the 5% level of significance, there is not sufficient evidence to reject the claim that the mean price is not $21,000.O B. At the 5% level of significance, there is not sufficient evidence to reject the claim that the mean price is $21,000.OC. At the 5% level of significance, there is sufficient evidence to reject the claim that the mean price is $21,000.O D. At the 5% level of significance, there is sufficient evidence to reject the claim that the mean price is not $21,000. A used car dealer says that the mean price of a three-year-old sports utility vehicle is $21,000. You suspect this claim is incorrect and find that a randomsample of 24 similar vehicles has a mean price of $21,825 and a standard deviation of $1902. Is there enough evidence to reject the claim at a = 0.05?Complete parts (a) through (e) below. Assume the population is normally distributed.(a) Write the claim mathematically and identify H, and Ha.Which of the following correctly states Ho and H?O A. Ho: H= $21,000Ha: µ $21,000Ha:us $21,000O E. Ho: µ= $21,000O F. Ho: u#$21,000Ha: H= $21,000Ha: H# $21,000(b) Find the critical value(s) and identify the rejection region(s).What is(are) the critical value(s), to?(Use a comma to separate answers as needed. Round to three decimal places as needed.)Determine the rejection region(s). Select the correct choice below and fill in the answer box(es) within your choice.(Round to three decimal places as needed.)O A. tOC.O D. t

Question

A used car dealer says that the mean price of a three-year-old sports utility vehicle is $21,000. You suspect this claim is incorrect and find that a randomsample of 24 similar vehicles has a mean price of $21,825 and a standard deviation of $1902. Is there enough evidence to reject the claim at a = 0.05?Complete parts (a) through (e) below. Assume the population is normally distributed.nuuIiu U UIICE uLIIiai piaces as TIttutu.)O A. tOC.(c) Find the standardized test statistic t.=1(Round to two decimal places as needed.)(d) Decide whether to reject or fail to reject the null hypothesis.O A. Reject H, because the test statistic is in the rejection region(s).O B. Fail to reject Ho because the test statistic is in the rejection region(s).O C. Reject H, because the test statistic is not in the rejection region(s).O D. Fail to reject Ho because the test statistic is not in the rejection region(s).(e) Interpret the decision in the context of the original claim.O A. At the 5% level of significance, there is not sufficient evidence to reject the claim that the mean price is not $21,000.O B. At the 5% level of significance, there is not sufficient evidence to reject the claim that the mean price is $21,000.OC. At the 5% level of significance, there is sufficient evidence to reject the claim that the mean price is $21,000.O D. At the 5% level of significance, there is sufficient evidence to reject the claim that the mean price is not $21,000. A used car dealer says that the mean price of a three-year-old sports utility vehicle is $21,000. You suspect this claim is incorrect and find that a randomsample of 24 similar vehicles has a mean price of $21,825 and a standard deviation of $1902. Is there enough evidence to reject the claim at a = 0.05?Complete parts (a) through (e) below. Assume the population is normally distributed.(a) Write the claim mathematically and identify H, and Ha.Which of the following correctly states Ho and H?O A. Ho: H= $21,000Ha: µ < $21,000O B. Ho: µ2 $21,000Ha:H< $21,000O C. Ho: H= $21,000Ha:µ > $21,000O D. Ho: H>$21,000Ha:us $21,000O E. Ho: µ= $21,000O F. Ho: u#$21,000Ha: H= $21,000Ha: H# $21,000(b) Find the critical value(s) and identify the rejection region(s).What is(are) the critical value(s), to?(Use a comma to separate answers as needed. Round to three decimal places as needed.)Determine the rejection region(s). Select the correct choice below and fill in the answer box(es) within your choice.(Round to three decimal places as needed.)O A. tOC.O D. t>

Accepted Answer

Given that 
The mean price of a three year old sports utility vehicle is $21,000
Claim : We suspect…