(See Solution) The average retail price for bananas in 1994 was 46.0 cents per pound, as reported by the U.S. Department of Agriculture in Food Cost Review .
Question: The average retail price for bananas in 1994 was 46.0 cents per pound, as reported by the U.S. Department of Agriculture in Food Cost Review . A random sample of 15 markets gave the following prices for bananas in cents per pound (in 1994).
| 51 | 48 | 50 | 48 | 45 |
| 52 | 53 | 49 | 43 | 42 |
| 45 | 52 | 52 | 46 | 50 |
We want to test the USDA’s reported price using the given data with 5% significance level:
- Set up the hypotheses. You may choose either one tailed-test or a two-tailed test.
- Calculate the value of the test statistic.
- Draw a graph indicating the critical (rejection) region.
- Perform the hypothesis test using the p -value method.
- From d), can we conclude that the true mean retail price for bananas in 1994 is different from the 1994 USDA’s mean of 46.0 cents per pound?
Deliverable: Word Document 
Solution: An auto manufacturing company wanted to investigate
![[Solution] Answer the following true-false questions: True](/images/solutions/MC-solution-library-59073.jpg "[Solution] Answer the following true-false questions: True or")
[Solution] Answer the following true-false questions: True or
![[See Solution] Twenty-one percent of the executives](/images/solutions/MC-solution-library-59074.jpg "[See Solution] Twenty-one percent of the executives in a large")
[See Solution] Twenty-one percent of the executives in a large
![[See Solution] In a clinical trial of](/images/solutions/MC-solution-library-59075.jpg "[See Solution] In a clinical trial of Lipitor, a common drug used")
[See Solution] In a clinical trial of Lipitor, a common drug used
(All Steps) The lengths of pregnancies are normally distributed with
Bond Value Calculator - MathCracker.com