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Question 1 A university claims that the average cost of books per student, per semester is $300....

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Statistics

Question 1

A university claims that the average cost of books per student,per semester is $300. A group of students believes that the actualmean is higher than this. They take a random sample of 100 studentsand calculate the sample mean to be $345 with a standard deviationof $200.

a)         Performa z-test to see if the students are correct, that the true mean isgreater than $300 using α = 0.05. Specify the hypotheses, teststatistic, decision rule and conclusion.

b) Calculate the p-value forthe test in part a). Does this agree with your answer topart a)? Explain why or why not.

c)   Calculatea 90% confidence interval for µ. Does this agree with your answerto part a)? Explain why or why not.

Answer & Explanation Solved by verified expert
4.5 Ratings (852 Votes)
To Test H0 H1 Test Statistic Z 225Test Criteria Reject null hypothesis if Result Reject null hypothesisConclusion    See Answer
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