Piper has a balance of $1,500 on her credit card with a 21% interest rate. Piper will make payments of $79.54 for 24 months to p
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Answer:
We conclude that commute time in her city is less than the amount reported by the survey which is 25.4 minutes.
Step-by-step explanation:
We are given the following in the question:
Population mean, μ = 25.4 minutes
Sample mean, = 22.1 minutes
Sample size, n = 15
Alpha, α = 0.10
Sample standard deviation, s = 5.3 minutes
First, we design the null and the alternate hypothesis
We use one-tailed t(left) test to perform this hypothesis.
Formula:
Putting all the values, we have
Now,
Since,
We fail to accept the null hypothesis and reject it. We accept the alternate hypothesis.
Thus, there is enough evidence to conclude that commute time in her city is less than the amount reported by the survey which is 25.4 minutes.