According to Kelley Blue Book, the mean price for one-to three-year-old used car

Question

According to Kelley Blue Book, the mean price for one-to   three-year-old used cars nationwide is $25,200.  to compare the average price of similar   used cars in central Indiana, a random sample of 105 such cars were selected.  The sample mean was $23,824 with a standard   deviation of $7,848.  Does the sample   provide significant evidence that the mean price of one-to-three-year old   used cars is different from the national mean price? Use ? = 0.05 a p-value = 0.0359 Reject   H?.  Conclude that the mean price in   central Indiana is different from the national mean price. b p-value = 0.0274 Reject   H?.  Conclude that the mean price in   central Indiana is different from the national mean price. c p-value = 0.0548 Do not   reject H?.  Conclude that the mean   price in central Indiana is not different from the national mean price. d p-value = 0.0718 Do not   reject H?.  Conclude that the mean   price in central Indiana is not different from the national mean price.
According to Kelley Blue Book, the mean price for one-to   three-year-old used cars nationwide is $25,200.  to compare the average price of similar   used cars in central Indiana, a random sample of 105 such cars were selected.  The sample mean was $23,824 with a standard   deviation of $7,848.  Does the sample   provide significant evidence that the mean price of one-to-three-year old   used cars is different from the national mean price?

Explanation / Answer

b p-value = 0.0274 Reject H?. Conclude that the mean price in central Indiana is different from the national mean price.

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