Reference no: EM132339494

Question

Suppose that BC financial aid alots a textbook stipend by claiming that the average textbook at BC bookstore costs $69.5. You want to test this claim.

The null and alternative hypothesis in symbols would be:_________

The null hypothesis in words would be:

1.) The average price of all textbooks from the store is $69.5

2.) The average of price of all textbooks from the store is greater than $69.5.

3.) The average price of textbooks in a sample is $69.5

4.) The proportion of all textbooks from the store that are less than 69.5 is equal to 50%

5.) The average of price of all textbooks from the store is less than $69.5.

Based on a sample of 80 textbooks at the store, you find an average of 82.9 and a standard deviation of 29.6.

The point estimate is: _______please round to three decimal places

The 99 % confidence interval (use z*) is: _________to________(to 3 decimal places)

Based on this we either reject the null hypothesis or fail to reject the null hypothesis?