Statistics: Informed Decisions Using Data (4th Edition)

Published by Pearson
ISBN 10: 0321757270
ISBN 13: 978-0-32175-727-2

Chapter 10 - Section 10.3 - Assess Your Understanding - Applying the Concepts - Page 505: 29

Answer

$μ=35.1~million$ lies outside the confidence interval: null hypothesis is rejected. There is enough evidence to conclude that the volume of Apple stock has changed since 2007.

Work Step by Step

$H_0: μ=35.1$ versus $H_1: μ\ne35.1$ Enter the data from Problem 25 in C1 Select Stat -> Basic Statistics -> 1-Sample t Select "Summarized data". In "Sample size" enter 40. In "Sample mean" enter 23.6. In "Standard deviation" enter 11.7 Click Options and enter the level of confidence 95%. Click OK. Click OK. $Lower~Bound=19.86$ $Upper~Bound=27.34$ Since $μ\gt Upper~Bound$, we reject the null hypothesis.
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