Answer:
Null Hypothesis, : $13.04
Alternate Hypothesis, : < $13.04
Step-by-step explanation:
We are given that the mean cost of a flank steak, broccoli, and rice bought at the grocery store is $13.04.
A sample of 100 neighborhood restaurants showed a mean price of $12.65 and a standard deviation of $2 for a comparable restaurant meal.
<u><em>Let </em></u><u><em> = mean cost of a restaurant meal</em></u>
So, Null Hypothesis, : $13.04
Alternate Hypothesis, : < $13.04
Here, <em><u>null hypothesis states that</u></em> the mean cost of a restaurant meal is more than or equal to fixing a comparable meal at home.
On the other hand, <u><em>alternate hypothesis states that</em></u> the mean cost of a restaurant meal is less than fixing a comparable meal at home.
The test statistics that we can use for conducting this hypothesis would be <u>t test statistics</u> as we don't know about population standard deviation;
T.S. = ~
where, = sample mean price of a restaurant meal $12.65
s = sample standard deviation = $2
n = sample of neighborhood restaurants = 100