Suppose that BC financial aid alots a textbook stipend by claiming that the average textbook at BC bookstore costs $$ 88.74. You want to test this claim. Based on a sample of 70 textbooks at the store, you find an average of 92.14 and a standard deviation of 29.6. The point estimate is:  (to 3 decimals) The 95 % confidence interval (use z*) is:  to  (to 3 decimals) Based on this we: Reject the null hypothesis Fail to reject the null hypothesis

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.3: Measures Of Spread
Problem 26PFA
icon
Related questions
Topic Video
Question

Suppose that BC financial aid alots a textbook stipend by claiming that the average textbook at BC bookstore costs $$ 88.74. You want to test this claim.


Based on a sample of 70 textbooks at the store, you find an average of 92.14 and a standard deviation of 29.6.

The point estimate is:  (to 3 decimals)

The 95 % confidence interval (use z*) is:  to  (to 3 decimals)

Based on this we:

  • Reject the null hypothesis
  • Fail to reject the null hypothesis
Expert Solution
steps

Step by step

Solved in 3 steps with 3 images

Blurred answer
Knowledge Booster
Hypothesis Tests and Confidence Intervals for Means
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, probability and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Algebra
ISBN:
9781680331141
Author:
HOUGHTON MIFFLIN HARCOURT
Publisher:
Houghton Mifflin Harcourt