A used car dealer says that the mean price of a three-year-old sports utility vehicle is$19,000.You suspect this claim is incorrect and find that a random sample of25similar vehicles has a mean price of$19,623and a standard deviation of$1950.Is there enough evidence to reject the claim atα=0.05?Complete parts (a) through (e) below. Assume the population is normally distributed. (a) Write the claim mathematically and identifyH0andHa. Which of the following correctly statesH0andHa? A.H0:μ=$19,000Ha:μ>$19,000 B.H0:μ=$19,000Ha:μ≠$19,000 C.H0:μ≠$19,000Ha:μ=$19,000 D.H0:μ>$19,000Ha:μ≤$19,000 E.H0:μ≥$19,000Ha:μ<$19,000 F.H0:μ=$19,000Ha:μ<$19,000(b) Find the critical value(s) and identify the rejection region(s). What is(are) the critical value(s),t0? t0=enter your response here(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.) A.enter your response here<t<enter your response here B.t<enter your response hereandt>enter your response here C.t<enter your response here D.t>enter your response here(c) Find the standardized test statistic t. t=enter your response here(Round to two decimal places as needed.)(d) Decide whether to reject or fail to reject the null hypothesis. A.RejectH0because the test statisticisin the rejection region(s). B.Fail to rejectH0because the test statisticisin the rejection region(s). C.RejectH0because the test statisticis notin the rejection region(s). D.Fail to rejectH0because the test statisticis notin the rejection region(s).(e) Interpret the decision in the context of the original claim. A.At the5%level of significance, thereis notsufficient evidence to reject the claim that the mean price is $19,000. B.At the5%level of significance, thereis notsufficient evidence to reject the claim that the mean price is not $19,000. C.At the5%level of significance, thereissufficient evidence to reject the claim that the mean price is $19,000. D.At the5%level of significance, thereissufficient evidence to reject the claim that the mean price is not $19,000. TextbookCalculator

Given : Claim : The mean price is $19,000.

Answered: used car dealer says that the mean…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Related questions

Question

A used car dealer says that the mean price of a three-year-old sports utility vehicle is

$19,000.

You suspect this claim is incorrect and find that a random sample of

similar vehicles has a mean price of

$19,623

and a standard deviation of

$1950.

Is there enough evidence to reject the claim at

α=0.05?

Complete parts (a) through (e) below. Assume the population is normally distributed.

(a) Write the claim mathematically and identify

and

Ha.

Which of the following correctly states

and

Ha?

H0:

μ=$19,000

Ha:

μ>$19,000

H0:

μ=$19,000

Ha:

μ≠$19,000

H0:

μ≠$19,000

Ha:

μ=$19,000

H0:

μ>$19,000

Ha:

μ≤$19,000

H0:

μ≥$19,000

Ha:

μ<$19,000

H0:

μ=$19,000

Ha:

μ<$19,000

(b) Find the critical value(s) and identify the rejection region(s).

What is(are) the critical value(s),

t0?

t0=enter your response here

(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.)

enter your response here<t<enter your response here

t<enter your response here

and

t>enter your response here

t<enter your response here

t>enter your response here

t=enter your response here

(Round to two decimal places as needed.)

(d) Decide whether to reject or fail to reject the null hypothesis.

Reject

because the test statistic

in the rejection region(s).

Fail to reject

because the test statistic

in the rejection region(s).

Reject

because the test statistic

is not

in the rejection region(s).

Fail to reject

because the test statistic

is not

in the rejection region(s).

(e) Interpret the decision in the context of the original claim.

At the

level of significance, there

is not

sufficient evidence to reject the claim that the mean price is $19,000.

At the

level of significance, there

is not

sufficient evidence to reject the claim that the mean price is not $19,000.

At the

level of significance, there

sufficient evidence to reject the claim that the mean price is $19,000.

At the

level of significance, there

sufficient evidence to reject the claim that the mean price is not $19,000.

TextbookCalculator

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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