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Author Question: A consumer product magazine recently ran a story concerning the increasing prices of digital ... (Read 67 times)

future617RT

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on: Feb 14, 2020
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 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. The information was entered into a spreadsheet and the following printout was obtained:

One-Sample T Test

Null Hypothesis: μ = 215
Alternative Hyp: μ > 215


​95% Conf Interval
Variable Mean SE Lower Upper T DF P
Camera Price 245.23 15.620 212.740 277.720 1.94 21 0.0333

Cases Included 22

Is a sample size n = 22 large enough to utilize the central limit theorem in this inferential procedure?
◦ No, since either np or nq is less than 15
◦ No, since n < 30
◦ Yes, since the central limit theorem works whenever means are used
◦ Yes, since both np and nq are greater than or equal to 15
Statistics ¦ McClave, Sincich, Tamarack ¦ 12th Edition
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Marked as best answer by future617RT on Feb 14, 2020

Jody Vaughn

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Reply #1 on: Feb 14, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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future617RT

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Reply 2 on: Feb 14, 2020
YES! Correct, THANKS for helping me on my review

Joy Chen

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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