(intel)CORE 15Suppose the mean price for used cars is $10,187. A manager of a Kansas City used car dealership reviewed a sample of 50 recent used car sales at the dealership in an attempt to determine whether the population mean price for used cars at this particular dealershipdiffered from the national mean. The prices for the sample of 50 cars are shown in the file named Used Cars.12,400 10,400 12,1009,895 11,250 8,795 12,500 9,340 10,1509,000 7,680O Ho: MS 10,187H: μ > 10,18710,000 11,000 8,895Ho: # < 10,187H: # 2 10,1879,400Ho: # = 10,187H: ## 10,18710,000 7,500 8,000 10,440 10,200 10,300 9,740 9,280 10,930 8,000Ho: μ ≥ 10,187H: μ< 10,1877,675 9,975 6,3509,2009,440 8,970 9,500 10,050 10,130 11,400 8,500 7,500 9,09010,730 7,350 12,240 11,970 8,2409,395What is the p-value? (Round your answer to four decimal places.)p-value =(b) What is the test statistic? (Round your answer to three decimal places.)11,000(a) Formulate the hypotheses that can be used to determine whether a difference exists in the mean price for used cars at the dealership.Ho: # > 10,187H: H≤ 10,1871180010,47010,6409,910 10,08010,500(c) At a = 0.05, what is your conclusion?Do not reject H. There is sufficient evidence to conclude that the population mean price at this dealership differs from the national mean price of 10,187.Do not reject H₂. There is insufficient evidence to conclude that the population mean price at this dealership differs from the national mean price of10,187.Reject Ho. There is sufficient evidence to conclude that the population mean price at this dealership differs from the national mean price of 10,187.Reject Ho. There is insufficient evidence to conclude that the population mean price at this dealership differs from the national mean price of 10,187.SearchDELLA2:24 PM10/24/2023

(a)From the given information, the correct hypotheses is Option 4. That is,That is, there is no…

Suppose the mean price for used cars is $10,187. A manager of a Kansas City used car dealership reviewed a sample of 50 recent 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 for the sample of 50 cars are shown in the file named Used Cars. 12,400 10,400 12,100 10,000 11,000 8.895 7,675 9,975 6,350 10,470 9,895 11.250 8,795 12,500 9,340 10,150 9,200 9,395 11,000 10,640 10,000 7,500 8,000 10,440 10,200 10,300 9,740 9,280 10,930 8,000 9,000 7,680 9,400 10,730 7,350 12,240 11.970 8,240 9,910 10,080 9,000 9,440 8,970 9,500 10,050 10,130 11,400 8,500 O (a) Formulate the hypotheses that can be used to determine whether a difference exists in the mean price for used cars at the dealership. > 10,187 HS 10,187 HS 10,187 HM> 10,187 #10,187 Hà 10,187 10,187 10,187 H O #210,187 H< 10,167 (b) What is the test statistic? (Round your answer to three decimal places.) 7,500 What is the p-value? (Round your answer to four decimal places.) p-value= 10,500 (c) At a 0.05, what is your conclusion? Do not reject H There is sufficient evidence to conclude that the population mean price at this dealership differs from the national mean price of 10,187. O Do not reject Hg. There is insufficient evidence to conclude that the population mean price at this dealership differs from the national mean price of 10,167. Reject H. There is sufficient evidence to conclude that the population mean price at this dealership differs from the national mean price of 10,187. O Reject H. There is insufficient evidence to conclude that the population mean price at this dealership differs from the national mean price of 10,187. HH Q Search PColl @ X 14. 4 224 P 10/24/20

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.3: Measures Of Spread

Problem 1GP