Question
In: Statistics and Probability
A consumer product magazine recently ran a story concerning the increasing prices of digital cameras. The...
A consumer product magazine recently ran a story concerning the increasing prices of digital cameras. The story stated that digital camera prices dipped a couple of years ago, but now are beginning to increase in price because of added features. According to the story, the average price of all digital cameras a couple of years ago was $215.00. A random sample of n = 200 cameras was recently taken and entered into a spreadsheet. It was desired to test to determine if that average price of all digital cameras is now more than $215.00. Find the large-sample rejection region appropriate for this test if we are using .
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Reject H0 if z < -1.645 or z > 1.645. |
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Reject H0 if z < -1.96 or z > 1.96. |
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Reject H0 if z > 1.645. |
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Reject H0 if z < -1.96. |
Solutions
Expert Solution
Answer:-
Given that:-
A consumer product magazine recently ran a story concerning the increasing prices of digital cameras. The story stated that digital camera prices dipped a couple of years ago, but now are beginning to increase in price because of added features. According to the story, the average price of all digital cameras a couple of years ago was $215.00. A random sample of n = 200 cameras was recently taken and entered into a spreadsheet. It was desired to test to determine if that average price of all digital cameras is now more than $215.00.
Find the large-sample rejection region appropriate for this test if we are using .?
Let 
denotes the average price of all digital cameras using 
To test the hypothesis
We have a right tailed test, thus we reject 
iff
orchestra answered 1 year agoRelated Solutions
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manufacturer of a popular consumer product. During your first week
on the job, the vice president has been favorably impressed with
your work. She has been so impressed, in fact, that yesterday she
called you into her office and asked you to attend the executive
committee meeting this morning for the purpose of leading a
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manufacturer of a popular consumer product. During your first week
on the job, the vice president has been favorably impressed with
your work. She has been so impressed, in fact, that yesterday she
called you into her office and asked you to attend the executive
committee meeting this morning for the purpose of leading a
discussion on the variances reported for last period. Anxious to
favorably impress the executive committee,...
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manufacturer of a popular consumer product. During your first week
on the job, the vice president has been favorably impressed with
your work. She has been so impressed, in fact, that yesterday she
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committee meeting this morning for the purpose of leading a
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committee meeting this morning for the purpose of leading a
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favorably impress the executive committee,...
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