A retailer needs to purchase 11 printers. The first printer costs $58, and each additional printer costs 5% less than the price
2 answers:
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Answer:
Step-by-step explanation:
Given that:
Population Mean = 7.1
sample size = 24
Sample mean = 7.3
Standard deviation = 1.0
Level of significance = 0.025
The null hypothesis:
The alternative hypothesis:
This test is right-tailed.
Rejection region: at ∝ = 0.025 and df of 23, the critical value of the right-tailed test
The test statistics can be computed as:
t = 0.980
Decision rule:
Since the calculated value of t is lesser than, i.e t = 0.980 < , then we do not reject the null hypothesis.
Conclusion:
We conclude that there is insufficient evidence to claim that the population mean is greater than 7.1 at 0.025 level of significance.