The Following Prices, in Dollars, of 7 $$\begin{array} { l l l l l } 314 & 305 & 344 & 283 & 285 \\310 & 383 & 285 & 300 & 300\end{array}$$

question 24

Multiple Choice

The following prices, in dollars, of 7.5-cubic-foot refrigerators were recorded from a random sample. $$\begin{array} { l l l l l } 314 & 305 & 344 & 283 & 285 \\310 & 383 & 285 & 300 & 300\end{array}$$ A consumer organization reports that the mean price of 7.5-cubic-foot refrigerators is greater than $300. Do the data provide convincing evidence of this claim? Use the $\alpha = 0.05$ level of significance and assume the
Population is normally distributed.

• A) Reject \(H _ { 0 }\) . There is sufficient evidence to conclude that the mean price is greater than $300
• B) Do not reject \(H _ { 0 }\)
• There is not sufficient evidence to conclude that the mean price is greater than $300
• C) There is not enough information to draw a conclusion.

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Definitions:

External Force

Factors or influences originating outside an organization that can affect its performance and operations.

Social Networks

Social networks are structures made up of individuals or organizations connected by one or more types of interdependency, such as friendships, kinship, common interests, or economic exchanges.

Organizational Restructuring

The process of changing the structure of an organization, including its systems, hierarchy, and job roles, to improve efficiency and effectiveness.

Reporting Relationships

The structured lines of authority within an organization, indicating who reports to whom.