Question 816266: Hypothesis test
A consumer organization claims that the mean price of 7.5 cubic foot refrigerators is greater than $300. Following are prices, in dollars, of a random sample of 7.5 cubic-foot refrigerators. At a= 0.05 is there enough evidence to support the claim.
Write a complete hypothesis test to support your conclusion.
314 299 377 332 330 350
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! Hypothesis test
A consumer organization claims that the mean price of 7.5 cubic foot refrigerators is greater than $300. Following are prices, in dollars, of a random sample of 7.5 cubic-foot refrigerators. At a= 0.05 is there enough evidence to support the claim.
Write a complete hypothesis test to support your conclusion.
314 299 377 332 330 350
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Ho: u <= 300
Ha: u > 300 (claim)
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x-bar = 333.67
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t(333.67) = (333.67-300)/[27.38/sqrt(5)] = 2.75
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p-value = P(t > 2.75 when df=5) = tcdf(2.75,100,5) = 0.0202
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Conclusion: Since the p-value is less than 5% reject Ho.
The test results support the claim.
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Cheers,
Stan H.
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