A car dealer who sells only late-model luxury cars recently hired a new salesperson and believes that this salesperson i

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answerhappygod
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A car dealer who sells only late-model luxury cars recently hired a new salesperson and believes that this salesperson i

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A car dealer who sells only late-model luxury cars recently
hired a new salesperson and believes that this salesperson is
selling at lower markups. He knows that the long-run average markup
in his lot is $5,600. He takes a random sample of 16 of the new
salesperson's sales and finds an average markup of $5,000 and a
standard deviation of $800. Assume the markups are normally
distributed, and use a 2% significance level.
Comparing the p-value and the significance level, is
there sufficient evidence to support the alternative hypothesis
that the new salesperson is selling at lower markups?
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