According to the Pak Car Dealers, the mean price for used cars isRs. 900,000. A Firm reviewed a sample data of 35% used car sales at the dealership. In an attempt to determine whether the population mean price for used cars at this particular dealership differed from the national mean. The prices in Rupees for the sample of 30 cars are shown in the Table 2. Table 2: Used Cars Data (Price in Rs) 200000 700000 240000 250000 220000 740000 280000 285000 680000 430000 335000 280000 540000 400000 470000 350000 450000 860000 780000 510000 900000 720000 270000 350000 800000 275000 270000 950000 640000 540000 Formulate the hypotheses that can be used to determine whether a difference exists in the mean price for used cars at the dealership. At a two-tailed test with α = 0.05, At a left-tailed test with α = 0.15.
According to the Pak Car Dealers, the mean price for used cars is
Rs. 900,000. A Firm reviewed a sample data of 35% used car sales at the dealership. In an attempt to determine whether the population mean price for used cars at this particular dealership differed from the national mean. The prices in Rupees for the sample of 30 cars are shown in the Table 2.
Table 2: Used Cars Data (Price in Rs)
|
200000 |
700000 |
240000 |
|
250000 |
220000 |
740000 |
|
280000 |
285000 |
680000 |
|
430000 |
335000 |
280000 |
|
540000 |
400000 |
470000 |
|
350000 |
450000 |
860000 |
|
780000 |
510000 |
900000 |
|
720000 |
270000 |
350000 |
|
800000 |
275000 |
270000 |
|
950000 |
640000 |
540000 |
Formulate the hypotheses that can be used to determine whether a difference exists in the mean price for used cars at the dealership.
- At a two-tailed test with α = 0.05,
At a left-tailed test with α = 0.15.
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