We are interested in looking at ticket prices of MLB games. Itis known from past information that the average price is $26.30,with a population standard deviation of $2.32. Suppose we take asample of the last 5 years and find that the average ticket priceis $29.94. We are interested in seeing if the average price oftickets has significantly increased. Use alpha=.10. Find the 90%confidence interval for ticket price.
| a. | (28.6103, 31.2697) |
| b. | (28.2334, 31.6466) |
| c. | (27.9064, 31.9736) |
| d. | (27.7282, 32.1518) |
We are interested in looking at ticket prices of MLB games. Itis known from past information that the average price is $26.30,with a population standard deviation of $2.32. Suppose we take asample of the last 5 years and find that the average ticket priceis $29.94. We are interested in seeing if the average price oftickets has significantly increased. Use alpha=.10. The null andalternative hypotheses are:
| a. | Null: The population mean is less than or equal to 26.30 Alternative: The population mean is greater than 26.30 |
| b. | Null: The population mean is greater than or equal to 26.30 Alternative: The population mean is less than 26.30 |
| c. | Null: The sample mean is greater than or equal to 29.94 Alternative: The sample mean is less than 29.94 |
| d. | Null: The population mean is equal to 26.30 Alternative: The population mean does not equal 26.30 |
We are interested in looking at ticket prices of MLB games. Itis known from past information that the average price is $26.30,with a population standard deviation of $2.32. Suppose we take asample of the last 5 years and find that the average ticket priceis $29.94. We are interested in seeing if the average price oftickets has significantly increased. Use alpha=.10. What is thecritical value?
| a. | z=1.2816 |
| b. | z=-1.2816 |
| c. | t=1.5332 |
| d. | z=1.6449 |
We are interested in looking at ticket prices of MLB games. Itis known from past information that the average price is $26.30,with a population standard deviation of $2.32. Suppose we take asample of the last 5 years and find that the average ticket priceis $29.94. We are interested in seeing if the average price oftickets has significantly increased. Use alpha=.10. What is thetest statistic?
| a. | t=3.51 |
| b. | t=-3.51 |
| c. | z=3.51 |
| d. | z=-3.51 |
We are interested in looking at ticket prices of MLB games. Itis known from past information that the average price is $26.30,with a population standard deviation of $2.32. Suppose we take asample of the last 5 years and find that the average ticket priceis $29.94. We are interested in seeing if the average price oftickets has significantly increased. Use alpha=.10. What is thep-value?
| a. | 0.9999 |
| b. | 0.0001 |
| c. | 0.01 |
| d. | 0.0006 |
