Below is the JMP output from a hypothesis test regarding the average price of California Wines. Test Mean Hypothesized Value 40 Actual Estimate 42.8338 DF 360 Std Dev 26.5328 t Test Test Statistic 2.0293 Prob > It| 0.0432 Prob > t 0.0216* Prob

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.3: Measures Of Spread
Problem 1GP
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Below is the JMP output from a hypothesis test regarding the average price of California Wines.
1Test Mean
Hypothesized Value
40
42.8338
360
26.5328
Actual Estimate
DF
Std Dev
t Test
Test Statistic
2.0293
Prob > It|
0.0432
Prob >t
0.0216*
Prob <t
0.9784
36
38
40
42
44
Assume that all 3 conditions were met.
Ho : u= $40.00
HA: µ# $40.00
Using level of significance () of 0.025, provide a full conclusion for this hypothesis test.
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Transcribed Image Text:Below is the JMP output from a hypothesis test regarding the average price of California Wines. 1Test Mean Hypothesized Value 40 42.8338 360 26.5328 Actual Estimate DF Std Dev t Test Test Statistic 2.0293 Prob > It| 0.0432 Prob >t 0.0216* Prob <t 0.9784 36 38 40 42 44 Assume that all 3 conditions were met. Ho : u= $40.00 HA: µ# $40.00 Using level of significance () of 0.025, provide a full conclusion for this hypothesis test. Edit View Insert Format Tools Table 12pt v Paragraph v B I T2 v
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