[Solution] A person claims that the average price of a car wash in West Newton great than $3.00. A sample of five car washes had an average price of $3.70
Question: A person claims that the average price of a car wash in West Newton great than $3.00. A sample of five car washes had an average price of $3.70 and a standard deviation of $0.30. At \[\alpha =0.05\] , test the claim.
- State the null and alternative hypothesis.
b. Compute the test value.
c. Find critical value(s).
d. Find p-value and
e. Make a decision to reject or not reject the null hypothesis. Justify your decision by using classical and p-value approaches.
f. Make a conclusion
Deliverable: Word Document 