1) The college bookstore tell prospective students that the average cost of its textbooks is $52 with a standard deviation of $4.50. A group of smart statistics students things the average cost is higher. In order to test the bookstore’s claim against their alternative, the students will select a random sample of size 100. Assume that the mean from their random sample is $52.80. Perform a hypothesis test at the 5% level of significance and state your decision.
1) The college bookstore tell prospective students that the average cost of its textbooks is $52 with a standard
deviation of $4.50. A group of smart statistics students things the average cost is higher. In order to test the bookstore’s claim against their alternative, the students will select a random sample of size 100. Assume that the mean from their random sample is $52.80. Perform a hypothesis test at the 5% level of significance and state your decision.
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