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Find the total cost. (How much you pay. Original price of a car: $21,589 Tax: 9%
2 answers:
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Answers and Step-by-step explanation:
Hypotheses are:
H o=19.8
H 1 ≠19.8
Here we have following information:
s=2.45, X bar=20.1, n=50
So test statistics will be
t=20.1-19.8/(2.45/ =0.87
Degree of freedom : d f = n - 1 = 50 - 1 =49
Test is two tailed so critical value of the test is -1.30 and 1.30.
Rejection region:
if t < -1.30 and t > 1.30, reject H o
Since test statistics lie in the rejection region so we fail to reject the null hypothesis.
(b)
The observed significance of the test is
P value =0.3885
(c)
Since p value is greater than 0.20 so we fail to reject the null hypothesis.