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# Hypothesis Testing (Z Testing)

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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 &#61537; = .05 level what would he conclude?

##### 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.

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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 α = .05 ...

##### Measures of Central Tendency

This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.