Page 1 of 1
A car dealer who sells only late model luxury cars recently hired a new salesperson and believes that this salesperson i
Posted: Wed May 11, 2022 10:44 am
by answerhappygod
- 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 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 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?