The Economist collects data each year on the price of a Big Mac in various countries around the world. A sample of McDonald’s restaurants in Europe in July 2016 resulted in the following Big Mac prices (after conversion to U.S. dollars): 4.44 3.15 2.42 3.96 4.35 4.51 4.17 3.69 4.62 3.80 3.36 3.85 The mean price of a Big Mac in the U.S. in July 2016 was $5.04. For purposes of this exercise, you can assume it is reasonable to regard the sample as representative of European McDonald’s restaurants. Does the sample provide convincing evidence that the mean July 2016 price of a Big Mac in Europe is less than the reported U.S. price? Test the relevant hypotheses using α = 0.05 Q= test type (hypothesis or estimation) S= data type (sample or experiment) T= categorical or numerical N= Number of samples or treatments
The Economist collects data each year on the price of a Big Mac in various countries around the world. A sample of McDonald’s restaurants in Europe in July 2016 resulted in the following Big Mac prices (after conversion to U.S. dollars): 4.44 3.15 2.42 3.96 4.35 4.51 4.17 3.69 4.62 3.80 3.36 3.85 The mean price of a Big Mac in the U.S. in July 2016 was $5.04. For purposes of this exercise, you can assume it is reasonable to regard the sample as representative of European McDonald’s restaurants. Does the sample provide convincing evidence that the mean July 2016 price of a Big Mac in Europe is less than the reported U.S. price? Test the relevant hypotheses using α = 0.05 Q= test type (hypothesis or estimation) S= data type (sample or experiment) T= categorical or numerical N= Number of samples or treatments
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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AThe Economist collects data each year on the price of a Big Mac in various countries around the world. A sample of McDonald’s restaurants in Europe in July 2016 resulted in the following Big Mac prices (after conversion to U.S. dollars):
4.44 3.15 2.42 3.96 4.35 4.51 4.17 3.69 4.62 3.80 3.36 3.85
The mean price of a Big Mac in the U.S. in July 2016 was $5.04. For purposes of this exercise, you can
assume it is reasonable to regard the sample as representative of European McDonald’s restaurants.
Does the sample provide convincing evidence that the mean July 2016 price of a Big Mac in Europe is less than the reported U.S. price? Test the relevant hypotheses using α = 0.05
Q= test type (hypothesis or estimation)
S= data type (sample or experiment)
T= categorical or numerical
N= Number of samples or treatments
Transcribed Image Text:2. AThe Economist collects data each year on the price of a Big Mac in various countries around the
world. A sample of McDonald's restaurants in Europe in July 2016 resulted in the following Big Mac
prices (after conversion to U.S. dollars):
4.44
3.15
2.42
3.96
4.35
4.51
4.17
3.69
4.62
3.80
3.36
3.85
The mean price of a Big Mac in the U.S. in July 2016 was $5.04. For purposes of this exercise, you can
assume it is reasonable to regard the sample as representative of European McDonald's restaurants.
Does the sample provide convincing evidence that the mean July 2016 price of a Big Mac in Europe
is less than the reported U.S. price? Test the relevant hypotheses using a = 0.05.
Hypotheses:
Method:
S:
T:
N:
Check:
Calculate:
Communicate:
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