You conducted a study of car sales in a dealer during any given week, there are

Question

You conducted a study of car sales in a dealer during any given week, there are 365 days in a year and 52 weeks in a year. You collected a sample of 36 weeks of data from a random sample that follows a normal distribution. Using that sample of 36 weeks you found the sample mean is 49 and you happen to know the population standard deviation is 5 by looking at a previous study. Conduct a hypothesis test of the Population Mean of 50 using a level of significance of .05

Using problem 1.3 Say you found the P-Value to be .2302 what would you conclude then

We fail to accept Ho the P-value is inconclusive

We fail to accept Ho the P-value is too small

We fail to reject Ho the P-Value is large

We reject Ho the P-Value is too large

We reject Ho the P-value is too small

We fail to accept Ho the P-value is inconclusive

We fail to accept Ho the P-value is too small

We fail to reject Ho the P-Value is large

We reject Ho the P-Value is too large

We reject Ho the P-value is too small

Explanation / Answer

Since p value is 0.2303 and it is more than the level of significance of 0.05, we fail to reject the null hypothesis because p value is large

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