According to the Vivino website, the mean price for a bottle of red wine that scores 4.0 or higher on the Vivino Rating System is $32.48. A New England–based lifestyle magazine wants to determine if red wines of the same quality are less expensive in Providence, and it has collected prices for 56 randomly selected red wines of similar quality from wine stores throughout Providence. The mean and standard deviation for this sample are $30.15 and $12, respectively. Using the critical value approach, develop appropriate hypotheses for a test to determine whether the sample data support the conclusion that the mean price in Providence for a bottle of red wine that scores 4.0 or higher on the Vivino Rating System is less than the population mean of $32.48. Use α = 0.05. Please include all 7 steps in hypothesis testing Critical Value Approach Develop the null and alternative hypothesis Specify the level of significance, α Choose the test statistic (z or t) Use the level of significance to determine the critical value and the rejection rule Calculate the test statistic Compare test statistic to your rejection rule. Reject of Fail to Reject the null hypothesis Interpret the statistical conclusion in the context of the problem.
According to the Vivino website, the mean price for a bottle of red wine that scores 4.0 or higher on the Vivino Rating System is $32.48. A New England–based lifestyle magazine wants to determine if red wines of the same quality are less expensive in Providence, and it has collected prices for 56 randomly selected red wines of similar quality from wine stores throughout Providence. The mean and standard deviation for this sample are $30.15 and $12, respectively. Using the critical value approach, develop appropriate hypotheses for a test to determine whether the sample data support the conclusion that the mean price in Providence for a bottle of red wine that scores 4.0 or higher on the Vivino Rating System is less than the population mean of $32.48. Use α = 0.05. Please include all 7 steps in hypothesis testing Critical Value Approach Develop the null and alternative hypothesis Specify the level of significance, α Choose the test statistic (z or t) Use the level of significance to determine the critical value and the rejection rule Calculate the test statistic Compare test statistic to your rejection rule. Reject of Fail to Reject the null hypothesis Interpret the statistical conclusion in the context of the problem.
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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According to the Vivino website, the mean price for a bottle of red wine that scores 4.0 or higher on the Vivino Rating System is $32.48. A New England–based lifestyle magazine wants to determine if red wines of the same quality are less expensive in Providence, and it has collected prices for 56 randomly selected red wines of similar quality from wine stores throughout Providence. The mean and standard deviation for this sample are $30.15 and $12, respectively.
Using the critical value approach, develop appropriate hypotheses for a test to determine whether the sample data support the conclusion that the mean price in Providence for a bottle of red wine that scores 4.0 or higher on the Vivino Rating System is less than the population mean of $32.48. Use α = 0.05.
Please include all 7 steps in hypothesis testing
- Critical Value Approach
- Develop the null and alternative hypothesis
- Specify the level of significance, α
- Choose the test statistic (z or t)
- Use the level of significance to determine the critical value and the rejection rule
- Calculate the test statistic
- Compare test statistic to your rejection rule. Reject of Fail to Reject the null hypothesis
- Interpret the statistical conclusion in the context of the problem.
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