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

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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
A Car Dealer Who Sells Only Late Model Luxury Cars Recently Hired A New Salesperson And Believes That This Salesperson I 1 (13.46 KiB) Viewed 27 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 S800. Assume the markups are normally distributed, and use a 2% significance level. What is the test statistic for the car dealer's hypothesis test?
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