question archive An automobile dealership believes their customers use more of the available miles on a 2-year lease than the national average of 30,000
An automobile dealership believes their customers use more of the available miles on a 2-year lease than the national average of 30,000
Subject:FinancePrice: Bought3
An automobile dealership believes their customers use more of the available miles on a 2-year lease than the national average of 30,000.a) State the Hypothesis to show leases from dealership exceed the national average ofmiles driven during the lease period.b) Choose a level of ????Use ? = 0.10 for this problem.c) To test the hypothesis, the dealership takes a random sample of 21 2013 modelChevrolet Impalas that ended their 2-year lease in summer 2015. The data appearin the Lease Car worksheet of the HW1 data workbook on Moodle. Collect dataand calculate necessary statistics to test the hypothesis.d) Sketch the sampling distribution. Include the critical value and test statistice) Draw a conclusion and report that in the problem context.f) Calculate the p-value for the hypothesis test7) A digital camcorder repair service has set a goal not to exceed an average of 5 working days from the time the unit is brought in to the time repairs are completed.a) State the Hypothesis to show the goal is being met.b) Choose a level of ????Use ? = 0.05 for this problem.c) To test the hypothesis, the repair service takes a random sample of 12 repairrecords and recorded the repair time (in days). The data appear in the repairworksheet of the HW1 data workbook on Moodle. Collect data and calculatenecessary statistics to test the hypothesis.d) Sketch the sampling distribution. Include the critical value and test statistice) Draw a conclusion and report that in the problem context.f) Calculate the p-value for the hypothesis test
