A First Course in Probability (10th Edition)
10th Edition
ISBN: 9780134753119
Author: Sheldon Ross
Publisher: PEARSON
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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
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