2 The college bookstore tells prospective students that the average cost of its textbooks is...
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Statistics
2 The college bookstore tells prospective students that the average cost of its textbooks is 52 with a standard deviation of 4 50 A group of smart statistics students thinks that 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 54 80 Perform a hypothesis test at the 5 level of significance z critical 1 96 and state whether we accept or reject the null hypothesis
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