Question

In: Statistics and Probability

A survey of 49 coffee shops found that the average price for a Medium iced coffee...

A survey of 49 coffee shops found that the average price for a Medium iced coffee is $3.25 with a
sample standard deviation of $1.25. Last year the national average price of a medium iced coffee
was $2.99. Test the claim that the price of a medium iced coffee has gone up from last year. Use
a 0.05 level.

Solutions

Expert Solution

claim : price gone up

therefore, Ha : mean > 2.99 $

TEST :

Conclusion : not enough evidence to claim that the price of a medium iced coffee has gone up from last year

(please UPVOTE)

orchestra answered 2 years ago
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