Statistics hypothesis testing-levels of significance

Reference no: EM13113411

The director of admissions is concerned about the high costs of textbooks for the students each semester. A sample of 20 students enrolled in the university indicates that X (bar)= $315.4 and s=$43.20

a. Using the 0.10 level of significance, is there evidence that the population mean is above $300?

b. What is your answer in (a) if s=$75 and the 0.05 level of significance is used?

c. What is your answer in (s) if X (bar)=$305.11 and s=$43.20?

d. Based on the information in part (a), what decision should the director make about the books used for the courses if the goal is to keep the cost below $300.00?

Reference no: EM13113411

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