A company purchased 400 units for $20 each on January 31. It purchased 520 units for $26 each on February 28. It sold a total of
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Answer:
P-value = 0.4846
Step-by-step explanation:
We are given the following in the question:
Population mean, μ = 4.73
Sample mean, = 4.35
Sample size, n = 51
Alpha, α = 0.05
Sample standard deviation, s = 3.88
First, we design the null and the alternate hypothesis
We use Two-tailed z test to perform this hypothesis.
Formula:
Putting all the values, we have
Now,
We can calculate the p-value with the help of standard normal table.
P-value = 0.4846
Since the p-value is higher than the significance level, we fail to reject the null hypothesis and accept it.
We conclude that this college has same drinking habit as the college students in general.