# Hypothesis Testing (Z Testing)

A manufacturer believed he can get $1240 for his product. Wanting to prove his belief he collected a random sample of 64 potential buyers of his product and found on average they were willing to pay $1200 with a sample standard deviation of 100. If he tests at the  = .05 level what would he conclude?

Â© BrainMass Inc. brainmass.com December 15, 2022, 7:47 pm ad1c9bdddfhttps://brainmass.com/statistics/hypothesis-testing/hypothesis-testing-testing-249992

#### Solution Preview

Hypothesis testing (Z testing)

5. A manufacturer believed he can get $1240 for his product. Wanting to prove his belief he collected a random sample of 64 potential buyers of his product and found on average they were willing to pay $1200 with a sample standard deviation of 100. If he tests at the Î± = .05 ...

#### Solution Summary

This solution states the null and alternative hypothesis, calculates the test statistic, compares it to the p-value, and make a decision to accept or reject the null hypothesis.