Perform a hypothesis test analysis to find out whether there has been an average increase in the price of lunch (Use six Hypothesis Testing Steps) ! b) Interpret (and explain) the results of point a above!
Perform a hypothesis test analysis to find out whether there has been an average increase in the price of lunch (Use six Hypothesis Testing Steps) ! b) Interpret (and explain) the results of point a above!
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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A student majoring in Management who has passed the Business Statistics course suspects that the average price of lunch at the canteen has increased during the pandemic. Before the pandemic, the price for lunch he paid was $21, $22, $22.50, $23, $23.50. After the pandemic, he paid $25, $25.50, $30, $27, and $26.50.
a) Perform a hypothesis test analysis to find out whether there has been an average increase in the price of lunch (Use six Hypothesis Testing Steps) !
b) Interpret (and explain) the results of point a above!
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