Here is the information that I have,
Background
After reviewing the data set related to the Whitner Autoplex data set, Team B developed a research question to help formulate the research hypothesis. Team B will determine whether or not consumers between the ages of 25 and 58 spend more on new cars than the average of $23,218.16.
The null hypothesis is that consumers between 25 and 58 years old spend less than or equal to the mean price of $23,218.16. The alternate hypothesis is that consumers between 25 and 58 years old spend less than the mean price of $23,218.16. We will use a right-sided test to confirm or reject the hypothesis.
The research hypothesis formulated from the research question is expressed numerically as
H0: µ $23,218.16
H1: µ > $23,218.16
According to the Whitner Autoplex data, the sample population size for consumers between the ages of 25 and 58 is n = 80. The mean µ price spent on new cars is $23,218.16 with a standard deviation of $4,354.44. Since the sample size is greater than 30, we used the right-sided z test. Using a significance level of .01, we will confirm or reject the null hypothesis.
Background
After reviewing the data set related to the Whitner Autoplex data set, Team B developed a research question to help formulate the research hypothesis. Team B will determine whether or not consumers between the ages of 25 and 58 spend more on new cars than the average of $23,218.16.
The null hypothesis is that consumers between 25 and 58 years old spend less than or equal to the mean price of $23,218.16. The alternate hypothesis is that consumers between 25 and 58 years old spend less than the mean price of $23,218.16. We will use a right-sided test to confirm or reject the hypothesis.
The research hypothesis formulated from the research question is expressed numerically as
H0: µ $23,218.16
H1: µ > $23,218.16
According to the Whitner Autoplex data, the sample population size for consumers between the ages of 25 and 58 is n = 80. The mean µ price spent on new cars is $23,218.16 with a standard deviation of $4,354.44. Since the sample size is greater than 30, we used the right-sided z test. Using a significance level of .01, we will confirm or reject the null hypothesis.