So say selling a backpack thats used-like new and the original price is $54.00 how much should I set the price at??
2 answers:
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Answer:
The test statistics is
Step-by-step explanation:
From the question we are told that
The data given is
330 620 1870 2410 4620 6396 7822 81028309 12882 14419 16092 18384 20916 23812 25814
The population mean is
The sample size is n = 16
The null hypothesis is
The alternative hypothesis is
The sample mean is mathematically evaluated as
So
=>
The standard deviation is mathematically represented as
So
=>
Generally the test statistic is mathematically represented as
From the z-table the p-value is
From the values obtained we see that
so we fail to reject the null hypothesis
Which implies that the claim of the NarStor is wrong