A Consumer Product Magazine Recently Ran a Story Concerning the Increasing

question 27

Multiple Choice

A consumer product magazine recently ran a story concerning the increasing prices of digital cameras. The story stated that digital camera prices dipped a couple of years ago, but now are beginning to increase in price because of added features. According to the story, the average price of all digital cameras a couple of years ago was $\$ 215.00$ . A random sample of $n = 22$ cameras was recently taken and entered into a spreadsheet. It was desired to test to determine if that average price of all digital cameras is now more than $\$ 215.00$ . Find a rejection region appropriate for this test if we are using $\alpha = 0.05$ .

• A) Reject \(\mathrm { H } _ { 0 }\) if \(\mathrm { t } > 1.725\)
• B) Reject \(\mathrm { H } _ { 0 }\) if \(\mathrm { t } > 1.717\)
• C) Reject \(\mathrm { H } _ { 0 }\) if \(\mathrm { t } > 2.080\) or \(\mathrm { t } < - 2.080\)
• D) Reject \(\mathrm { H } _ { 0 }\) if \(\mathrm { t } > 1.721\)

---

Definitions:

Marketing Strategy

An organization's comprehensive plan formulated for successfully promoting and selling its products or services, focusing on the optimal use of the four Ps: product, price, place, and promotion.

Pro Forma Goals

These are projected financial statements or goals that a company uses for planning purposes, reflecting expectations of how financial results should appear under certain scenarios.

Budget Projections

Financial estimates anticipating revenue, expenses, and net profit for future periods.

Potential Valuations

Estimated values assigned to businesses, assets, or investments based on future earnings power or asset values.