State the null and alternative hypothesis in symbols and words. Assume conditions have been met. (2 pts.) Perform your hypothesi
s test "by hand" using the equation editor. Be sure to use the appropriate probability notation. Don't write your conclusion in this step.(4 pts.) Construct a 90% confidence interval, again showing calculations "by hand". Don't write your conclusion in this step. (4 pts.) State your FULL conclusion making sure to site whether we reject or fail to reject and what that means in context based on the p-value. Then support your conclusion with the results from your confidence interval. Then be sure to note whether the hypothesized value falls in our interval and what that means. (3 pts.)
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Let x be marked up price. We have been given that a chemistry set costing $27.50, marked up 32% on cost.
Therefore, mark up price is $8.80.
Since we know that selling price of any item equals the sum of cost and mark-up price of the item.
Let us find selling price of our chemistry set.
Therefore, the selling price of the chemistry set is $ 36.30.