Question 1157881
Use a calculator to get the mean and sd of these data.
The calculator with the t-test (random sample, normal, using sd of sample to approximate sd of distribution).
the mean is $91979.93
sd is $13105.58

the test statistic is t(0.975, df=15)
critical value is |t|>2.131
the calculation is t(0.975,df=15)=(x bar-mean)/s/sqrt(n)
=-7020.07*sqrt(15)/13105.58
= -2.07
The null hypothesis is not rejected at the 0.05 level. There is not sufficient evidence to conclude the true mean is not $99000.
p-value is 0.057

This can be put into the t-test in STAT TESTS, with Data and the same results will be given.