According to a leasing firm's reports, the mean number of miles driven annually in its leased cars is 13,440 miles with

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According To A Leasing Firm S Reports The Mean Number Of Miles Driven Annually In Its Leased Cars Is 13 440 Miles With 1 (57.92 KiB) Viewed 104 times

According to a leasing firm's reports, the mean number of miles driven annually in its leased cars is 13,440 miles with a standard deviation of 1100 miles. The company recently starting using new contracts which require customers to have the cars serviced at their own expense. The company's owner believes the mean number of miles driven annually under the new contracts, H. is less than 13,440 miles. He takes a random sample of 60 cars under the new contracts. The cars in the sample had a mean of 13,300 annual miles driven. Is there support for the calm, at the 0.10 level of significance, that the population mean number of miles driven annually by cars under the new contracts, is less than 13,440 miles? Assume that the population standard deviation of miles driven annually was not affected by the change to the contracts. Perform a one-talled test. Then complete the parts below. Carry your intermediate computations to three or more decimal places, and round your responses as specified below. (If necessary, consult a list of formulas.) (a) State the null hypothesis and the alternative hypothesis H. 6 р H 0 H 0 X 5 ca Cla 8 (b) Determine the type of test statistic to use (Choose one) (c) Find the value of the test statistic (Round to three or more decimal places) D DSD 020 DO ba (a) Find the p-value. (Round to three or more decimal places 0 (e) Can we support the claim that the population mean number of miles driven annually by cars under the new contracts is less than 13,440 miles? Yes No