(c) Find the standardized test statistic t. ..... t= 1.70 (Round to two decimal places as needed.) (d) Decide whether to reject or fail to reject the null hypothesis. O A. Fail to reject Ho because the test statistic is in the rejection region(s). O B. Reject H, because the test statistic is not in the rejection region(s). O C. Fail to reject Ho because the test statistic is not in the rejection region(s). O D. Reject H, because the test statistic is in the rejection region(s). (e) Interpret the decision in the context of the original claim. O A. At the 1% level of significance, there is not sufficient evidence to reject the claim that the mean price is not $23,000. B. At the 1% level of significance, there is sufficient evidence to reject the claim that the mean price is $23,000 C. At the 1% level of significance, there is not sufficient evidence to reject the claim that the mean price is $23,000. D. At the 1% level of significance, there is sufficient evidence to reject the claim that the mean price is not $23,000.
(c) Find the standardized test statistic t. ..... t= 1.70 (Round to two decimal places as needed.) (d) Decide whether to reject or fail to reject the null hypothesis. O A. Fail to reject Ho because the test statistic is in the rejection region(s). O B. Reject H, because the test statistic is not in the rejection region(s). O C. Fail to reject Ho because the test statistic is not in the rejection region(s). O D. Reject H, because the test statistic is in the rejection region(s). (e) Interpret the decision in the context of the original claim. O A. At the 1% level of significance, there is not sufficient evidence to reject the claim that the mean price is not $23,000. B. At the 1% level of significance, there is sufficient evidence to reject the claim that the mean price is $23,000 C. At the 1% level of significance, there is not sufficient evidence to reject the claim that the mean price is $23,000. D. At the 1% level of significance, there is sufficient evidence to reject the claim that the mean price is not $23,000.
Transcribed Image Text:A used car dealer says that the mean price of a three-year-old sports utility vehicle is $23,000. You suspect the claim is incorrect and find that a random sample of 22 similar vehicles has a mean price of $23,691 and a standard deviation of $1911. Is there enough evidence to reject the claim at \(\alpha = 0.01\)? Complete parts (a) through (e) below. Assume the population is normally distributed.
(c) Find the standardized test statistic \(t\).
\(t = 1.70\) (Round to two decimal places as needed)
(d) Decide whether to reject or fail to reject the null hypothesis.
- A. Fail to reject \(H_0\) because the test statistic is in the rejection region(s).
- B. Reject \(H_0\) because the test statistic is not in the rejection region(s).
- C. Fail to reject \(H_0\) because the test statistic is not in the rejection region(s).
- D. Reject \(H_0\) because the test statistic is in the rejection region(s).
(e) Interpret the decision in the context of the original claim.
- A. At the 1% level of significance, there is not sufficient evidence to reject the claim that the mean price is not $23,000.
- B. At the 1% level of significance, there is sufficient evidence to reject the claim that the mean price is $23,000.
- C. At the 1% level of significance, there is not sufficient evidence to reject the claim that the mean price is $23,000.
- D. At the 1% level of significance, there is sufficient evidence to reject the claim that the mean price is not $23,000.
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