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A Large University Is Interested in Learning About the Average μ=20\mu = 20

question 140

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A large university is interested in learning about the average time it takes students to drive to campus. The university sampled 238 students and asked each to provide the amount of time they spent traveling to campus. This variable, travel time, was then used to create a confidence interval and to conduct a test of hypothesis, both of which are shown in the printout below. One-Sample Z Test
Null Hypothesis: μ=20\mu = 20
Alternative Hyp: μ>20\mu > 20
\quad \quad \quad \quad \quad \quad \quad \quad \quad 95% Conf Interval 95 \% \text { Conf Interval }
 Variable Mean SE Lower Upper\text { Variable \quad Mean \quad SE \quad Lower \quad Upper\quad Z \quad P }
 Camera Price 23.2431.313320.66925.8172.470.0071\begin{array} { l l l l l l } \text { Camera Price } 23.243 & 1.3133 & 20.669 & 25.817 & 2.47 & 0.0071 \end{array} Cases Included 238 What conclusion can be made from the test of hypothesis conducted in this printout? Begin each answer with, "When testing at ? = 0.01…"


Definitions:

Achievable Performance

A realistic level of outcome that can be attained within a given time frame under assumed conditions.

Cash Budget

A financial plan that estimates cash inflows and outflows over a specific period of time, often used for managing company liquidity.

Timing

The act of selecting an appropriate point or period in time to execute a particular action, often with the goal of maximizing benefit or minimizing cost.

Amount

The total sum or quantity of something, often specified in terms of money or units.

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