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According to the National Automobile Dealers Association, the mean price for used cars is $10,192.

4. According to the National Automobile Dealers Association, the mean price for used cars is $10,192. A manager of a Kansas City used car dealership reviewed a sample of 100 recent used car sales at the dealership. The sample mean price was $9,300 and the sample standard deviation was $4500. Letting µ denote the population mean price for used cars at the Kansas City dealership, test H0: µ > 10,192 and H1: µ < 10,192 at a .05 level of significance.
a. What is the hypothesis testing conclusion?
b. What is the p-value?
c. What information does the hypothesis test result provide for the manager of the Kansas City dealership? What follow-up action might the manager want to consider?

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Statistics and Probability- Calculations.xls

Hypothesis2
t Test for Hypothesis of the Mean
Data
Null Hypothesis
µ=
Level of Significance
Sample Size
Sample Mean
Sample Standard Deviation 10192
0.05
100
9300
4500 Intermediate Calculations...

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