Explore BrainMass

Explore BrainMass

    T Test for Mean and One Sample Hypothesis

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Need a suggestion for a One Sample Hypothesis from the following data set.

    Price Price($000) Age of Buyer Type 0=Domestic 1 = Import
    15935 15.935 25 1
    15546 15.546 26 1
    17357 17.357 28 1
    20047 20.047 28 1
    17399 17.399 29 1
    18021 18.021 29 1
    15794 15.794 30 1
    17968 17.968 30 1
    18890 18.89 31 1
    24609 24.609 31 1
    17266 17.266 32 1
    19587 19.587 32 0
    17891 17.891 33 1
    20155 20.155 33 1
    20445 20.445 34 1
    19331 19.331 35 1
    19688 19.688 35 1
    20642 20.642 35 1
    20895 20.895 35 0
    23657 23.657 35 0
    20203 20.203 36 1
    21639 21.639 37 1
    27453 27.453 37 1
    27896 27.896 37 0
    28034 28.034 38 1
    28683 28.683 38 1
    18263 18.263 39 1
    20642 20.642 39 1
    21740 21.74 39 0
    27443 27.443 39 0
    20454 20.454 40 1
    23591 23.591 40 0
    25449 25.449 40 0
    21442 21.442 41 1
    21722 21.722 41 0
    22442 22.442 41 1
    22845 22.845 41 1
    19251 19.251 42 1
    26613 26.613 42 1
    29076 29.076 42 1
    21556 21.556 43 1
    21981 21.981 43 1
    30872 30.872 43 0
    19766 19.766 44 1
    19889 19.889 44 1
    20356 20.356 44 0
    25799 25.799 44 0
    26285 26.285 44 0
    19873 19.873 45 1
    20004 20.004 46 1
    20818 20.818 46 1
    23197 23.197 46 0
    26651 26.651 46 1
    26661 26.661 46 1
    28337 28.337 46 0
    23169 23.169 47 0
    23613 23.613 47 1
    24296 24.296 47 0
    25277 25.277 47 0
    26237 26.237 47 0
    23372 23.372 48 0
    23765 23.765 48 0
    20962 20.962 49 1
    24324 24.324 50 1
    20633 20.633 51 1
    22817 22.817 51 1
    24533 24.533 51 0
    28670 28.67 51 1
    30655 30.655 51 0
    32492 32.492 51 0
    22374 22.374 53 0
    25783 25.783 53 1
    35925 35.925 53 0
    24571 24.571 55 1
    32277 32.277 55 0
    24052 24.052 56 0
    24285 24.285 56 0
    25251 25.251 56 1
    35851 35.851 56 0
    24220 24.22 58 1

    © BrainMass Inc. brainmass.com June 3, 2020, 10:26 pm ad1c9bdddf
    https://brainmass.com/statistics/students-t-test/test-mean-one-sample-hypothesis-231455

    Solution Preview

    See the attachments

    H0: Mean Price =$25000
    H1: Mean Price <$25000
    The test statistic used is
    Significance level =0.05
    Decision rule: Reject the null hypothesis, if the calculated value of test ...

    Solution Summary

    The solution provides step by step method for the calculation of population mean . Formula for the calculation and Interpretations of the results are also included.

    $2.19

    ADVERTISEMENT