Perform the five-step assumption sieve on entropy pertaining to your selection. 1. Stating the inquiry question: Is the amount age of psyche buy a car from the autoplex greater than or comprise to 40 past period old. 2. Specify the nobody and alternative hypothesis and the take aim of signification: Null Hypothesis: The average age of person buying a car is greater than or equal to 40 years old. H0: µ >= 40 Alternative Hypothesis: The average age of someone buying a car is little than 40 years old. H1: µ < 40 We decided to use an important or direct of meaning of 0.05 because it did non seem essential to get as detail with this show with a level of significance of 0.01 therefore alpha = 0.05. 3. Identify and calculate the test statistic: Whitner Autoplex Data Set romance: X1: Selling price in dollars X2: Selling price in thousands of dollars X3: Age of buyer X4: 0=Domestic, 1=Imported 80 Autos Sold z = xbar-µ (hypothesized) modular error of xbar xbar = 42 (average age from data set) µ = 40 (hypothesized look for question) standard error of xbar = s/sqrt(n) (s = precedent standard passing ) (n = sample size) s = 8.217148 n = 80 z = 42 40 = 2 / = 2.134 8.21 / sqrt(80) 0.92 4. Compute probability of test stati stic or rejection region: During this secti! on we will compute whether or not the null hypothesis will be authorized or rejected. Since this is a two-tailed test the cut-off z-value would be -1.96 and 1.96. To determine rejection of the null hypothesis you would see where the...If you want to get a upright essay, ball club it on our website: OrderEssay.net
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