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 I 1 (30.59 KiB) Viewed 28 times

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? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. Yes, reject the null hypothesis a b No, fail to reject the null hypothesis