00:01
Okay, so i can't actually see the excel file or the following questions that you have.
00:06
However, i did notice a few things.
00:09
The first thing is that the average is supposed to be $10 ,754, $744.
00:19
We don't know what the standard deviation is.
00:25
And then the dealership has a sample of n -equals 50 cars from which there will be a x bar, a mean, and you can also easily calculate a standard deviation in excel, which isn't going to be an issue.
00:44
However, the next part will apply your knowledge of statistics.
00:48
You'll have to decide what kind of test you'll be using, depending on if you know the sigma or not, it'll be whether you use a z or a t test.
00:58
So your null hypothesis is going to be that, um, mu is equal to mu not.
01:11
So actually it's not going to be mu not.
01:13
It's going to be 10 ,744...