Assume that you are planning to buy a car in the used car market. Explain the procedure of how you will best fix the price. How many cars you will check? What is the best test statistics you will choose to test your hypothesis? Assume the company XYZ is offering the same brand car that you are looking for at a cost of 5000 rials. Will you accept the price or not? Assume that all cars in used car market are approximately in the same condition. What is your null and alternate hypothesis? What is your possible negotiation limit? Is it a one-tail or two-tail test? Explain the whole process of making decisions statistically

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