Question

Statistics, will give medals and fan! Please help, I really need help...

Answer 1

Julian is a manager at a clothing store for teens. He is analyzing the order for next season. Data for the previous 10 years suggests that teens are willing to spend an average of $75 for a pair of designer jeans with a standard deviation of $5. However, Julian thinks the average may have changed due to a recession. He finds that the last three seasons of data show that teens spent an average of $68 on a pair of jeans Therefore, he performed a hypothesis test to see if the recent average is the same. Julian used a significance level of 5% to perform the test. Which of the following statements is valid based on the results?

Julian’s data shows that the recent seasons’ average jean price is not $75.
Julian’s data shows that he should order fewer jeans than before.
Julian’s data shows that the recent seasons’ average jean price is still $75.
Julian’s data is inconclusive, so he should order the same number of jeans.

Answer 2

i think the null hypothesis can be rejected.. but thats as far as i can figure out...