Question 02:[08 Marks] Customers believe that the mean price (in Rs.) of 1000cc cars in Turkey is less than th
Posted: Sun Oct 03, 2021 3:40 pm
Question 02:[08 Marks]
Customers believe that the mean price (in Rs.) of 1000cc cars in Turkey is less than the average price of 800cc cars in Pakistan, which is Rs. 1,150,000. The given population standard deviation is Rs. 170084. A random sample of 25 cars from the system is selected, and the mean price of the sample is 950,000. The level of significance is α = 0.05. Apply Fisher’s exact test and draw a two-tailed graph.
Customers believe that the mean price (in Rs.) of 1000cc cars in Turkey is less than the average price of 800cc cars in Pakistan, which is Rs. 1,150,000. The given population standard deviation is Rs. 170084. A random sample of 25 cars from the system is selected, and the mean price of the sample is 950,000. The level of significance is α = 0.05. Apply Fisher’s exact test and draw a two-tailed graph.