The Price of an IPod Dropped from $299

question 89

Multiple Choice

The price of an iPod dropped from $299.99 to $180.55. What was the percent decrease in price? (Round to nearest hundredth percent.)

• A)39.82%.
• B)39.81%.
• C)39.80%.
• D)39%.
• E)None of these.

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Definitions:

One-sample Z Statistic

A statistical measure used to determine how many standard deviations a single sample mean deviates from the population mean, assuming the population variance is known.

One-sample T Statistic

A statistical measure used to compare the mean of a single sample to a known or hypothesized population mean.

Null Hypothesis

In statistical hypothesis testing, a statement that there is no effect or no difference, and any observed deviation from this is due to sampling or experimental error.

Significance Level

The probability of rejecting the null hypothesis in a statistical test when it is actually true, commonly denoted by alpha.