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Which is cheaper: eating out or dining in? The mean cost of a flank steak, broccoli,...

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Basic Math

Which is cheaper: eating out or dining in? The mean cost of aflank steak, broccoli, and rice bought at the grocery store is$13.04. A sample of 100 neighborhood restaurants showed a meanprice of $12.65 and a standard deviation of $2 for a comparablerestaurant meal.

(a)Choose the appropriate hypotheses for a test to determinewhether the sample data support the conclusion that the mean costof a restaurant meal is less than fixing a comparable meal athome.
H0:- Select your answer -µ > 13.04µ ? 13.04µ < 13.04µ ?13.04Item 1
Ha:- Select your answer -µ > 13.04µ ? 13.04µ < 13.04µ ?13.04Item 2
(b)Using the sample from the 100 restaurants, what is thep value? If required, round your answer to four decimalplaces.
(c)At ? = 0.05, what is your conclusion?
We - Select your answer -rejectfail to rejectItem 4 the nullhypothesis. We - Select your answer -cancannotItem 5 conclude thatthe cost of a restaurant meal is significantly cheaper than acomparable meal fixed at home.

Answer & Explanation Solved by verified expert
4.3 Ratings (778 Votes)
Given that population meanu1304 sample mean x    See Answer
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