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Bayus (1991) studied the mean numbers of auto dealers visited by early and late replacement buyers....

Bayus (1991) studied the mean numbers of auto dealers visited by early and late replacement buyers. Letting μ be the mean number of dealers visited by all late replacement buyers, set up the null and alternative hypotheses needed if we wish to attempt to provide evidence that μ differs from 4 dealers. A random sample of 100 late replacement buyers yields a mean and a standard deviation of the number of dealers visited of x¯ = 4.37 and s = .56. Using a critical value and assuming approximate normality to test the hypotheses you set up by setting α equal to .10, .05, .01, and .001. Do we estimate that μ is less than 4 or greater than 4? (Round your answers to 3 decimal places.) H0 : μ (Click to select) 4 versus Ha : μ (Click to select) 4. t tα/2 = 0.05 tα/2 =0.025 tα/2 =0.005 tα/2 =0.0005 There is (Click to select) evidence. μ is (Click to select) 4.

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orchestra answered 1 year ago
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Bayus (1991) studied the mean numbers of auto dealers visited by early and late replacement buyers....
Bayus (1991) studied the mean numbers of auto dealers visited by early and late replacement buyers. Letting μ be the mean number of dealers visited by all late replacement buyers, set up the null and alternative hypotheses needed if we wish to attempt to provide evidence that μ differs from 4 dealers. A random sample of 100 late replacement buyers yields a mean and a standard deviation of the number of dealers visited of x ¯  x¯ = 4.38 and s...
Bayus (1991) studied the mean numbers of auto dealers visited by early and late replacement buyers....
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In an article in the Journal of Marketing, Bayus studied the differences between "early replacement buyers” and "late replacement buyers” in making consumer durable good replacement purchases. Early replacement buyers are consumers who replace a product during the early part of its lifetime, while late replacement buyers make replacement purchases late in the product’s lifetime. In particular, Bayus studied automobile replacement purchases. Consumers who traded in cars with ages of zero to three years and mileages of no more than...
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