The UMUC bookstore states the average textbook costs $119. A randomly selected sample of 26 new textbooks at the UMUC bookstore had a mean price of $123.45 and sample standard deviation of $15.23. Use a 0.05 significance level to test the claim that the mean price of textbooks at the UMUC bookstore is significantly more than $119 (use the p-value method). Show your work.
a. Give the symbolic null & alternative hypotheses. Use proper notation.
H0: HA:
b. Determine the test statistic (round to 3 decimal places):
c. Determine the p-value (round to 3 decimal places):
d. Result (Circle one & justify): REJECT ๐‘ฏ๐ŸŽ FAIL TO REJECT ๐‘ฏ๐ŸŽ
e. State a conclusion within the context of the scenario:

Can someone please check my work.

a. H0: ยต โ‰ค 119
HA: ยต > 119

b. Test statistic = (123.45-119)/15.22/โˆš26 = 1.490

c. df = 26-1 = 25
This is a right tailed test.
P value = P(t(25) > 1.490)= 0.074

d. Fail to reject Ho
Reason: the p value of 0.074 is larger than significance level of 0.05

e. We do not reject the null hypothesis due to the data not providing enough evidence that the population mean price of textbooks at the umuc bookstore is more than $119.

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asked by Nick
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    posted by John

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