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Answer:
We conclude that the actual average cost per workbook is higher than $27.50.
Step-by-step explanation:
We are given the following in the question:
Population mean, μ = $27.50
Sample mean, = $28.90
Sample size, n = 44
Alpha, α = 0.05
Population standard deviation, σ = $5.00
First, we design the null and the alternate hypothesis
We use one-tailed z test to perform this hypothesis.
Formula:
Putting all the values, we have
Now,
Since,
We reject the null hypothesis and accept the alternate hypothesis.
Thus, we conclude that the actual average cost per workbook is higher than $27.50.