Is y = 5(1.04)* A. growth or B. decay?
2 answers:
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Answer:
Explained below.
Step-by-step explanation:
(1)
The hypothesis can be defined as follows:
<em>H</em>₀: The Speedy Oil Change will change the oil in customers’ cars in more than 30 minutes on average, i.e. <em>μ</em> > 30.
<em>H</em>ₐ: The Speedy Oil Change will change the oil in customers’ cars in less than 30 minutes on average, i.e. <em>μ</em> ≤ 30.
(2)
Use Excel to compute the sample mean and standard deviation as follows:
Compute the test statistic as follows:
The degrees of freedom is:
df = n - 1
= 36 - 1
= 35
Compute the p-value as follows:
(3)
The <em>p</em>-value = 0.0006 is very small.
The null hypothesis will be rejected at any of the commonly used significance level.
(4)
There is sufficient evidence to support the claim that the Speedy Oil Change will change the oil in customers’ cars in less than 30 minutes on average.
