As the authorized purchasing manager for a large insurance firm, you must decide

Question

As the authorized purchasing manager for a large insurance firm, you must decide if it is good for the company to upgrade office computers. According to your budget the average cost of a desktop computer must be less than or equal to $2,100. Using a sample of 64 retailers reveals a mean price of $1,951, with a standard deviation of $242. Does, the manager proceed with using a 5 percent significant level? The alternative hypothesis stated in the above example is: A. The standard deviation is equal to $242 B. The mean is greater than $2100 C. The mean is equal to $1951 D. The mean is less than $2100 E. The mean is less than $2193

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