Hypothesis testing I and II Responses

islandbuilt
RESPONSE2.xlsx

Sheet1

VEHICLE CLASS YEAR MAKE MODEL TRADE IN VALUE MPG (city) MPG (hw) COMBINED Tank Size (Gal.) Fuel Economy*
Pickup 2017 Ford F-150 XLT $25,562 18 23 20 23 460
Sedan 2013 Dodge Dart Rallye $7,428 25 36 29 15.8 458.2
Pickup 2015 GMC Sierra 1500 SLE $11,390 14 19 16 26 416
Sedan 2012 Ford Fusion SE $7,865 23 33 26 17.5 455
Station Wagon 2012 VW Jetta SportWagon TDI $9,108 29 37 32 14.5 464
Hatchback 2017 Mitsubishi Mirage ES $7,328 33 41 36 9.2 331
Sedan 2010 Kia Optima LX $5,445 22 32 25 16.4 410
Coupe 2018 Dodge Challenger R/T $27,678 16 25 19 18.5 351.5
Pickup 2004 GMC Sonoma SLS $6,823 14 18 16 17 272
SUV 2019 Tesla Model X Long Range $77,255 99e 93e 96e N/A 371**
Qualitative Quantitative Qualitative Qualitative Quantatative Quantatative Quantatative Quantatative Quantatative Quantatative
*Fuel Economy = Tank Size x Combined MPG
**The Tesla Model X Long Range SUV is a fully electric car and does not use gasoline
Mean (x): $18,588 Step 1: H0: µ=c H0: µ=7690.2
Median: $8,487 Ha: µ>c Ha: µ>7690.2
Standard Deviation: 22091.3076711684 Alpha: 0.05
Sample Size (n): 10 Standard Error: 6985.8848732442
p (success) 0.70 Step 2: T-test Statistic: 1.5600028053
q (failure) 0.30 Step 3: p-value: 0.0765953732
40th Percentile (c): 7690.2 Step 4a: p>α 0.0766>0.05
Step 4b: Failed to reject null hypothesis.
Step 4c: There is not enough evidence to support the alternative hypothesis.