Is the Null Hypothesis and Alternative Hypothesis as follow based on the questio

Question

Is the Null Hypothesis and Alternative Hypothesis as follow based on the question?

Ho: 14

Ha: <14

Question 2) Barbara’s concern about parking costs

Barbara is working as a planning consultant to the government focused on the location of small businesses. Barbara is particularly interested in examining what the average cost of parking at a parking station that is catering to city-based restaurants (i.e., defined as those restaurants located within 5km of the CBD). One suggestion from her previous work conducted overseas is that, on average, parking costs should be significantly less than $14 to ensure using a private vehicle to frequent city-based restaurants remains a favourable proposition for potential patrons. Propose and test a suitable hypothesis to examine this using the sample data provided.

Link to data: https://docs.google.com/spreadsheets/d/1UPFis4quTuA0raeu2ScdS-2oOr9rkR1-JEerkVS7Qpw/edit?usp=sharing

Explanation / Answer

One-Sample T: CostPark2Hrs

Test of = 14 vs < 14

Variable           N      Mean StDev SE Mean 95% Upper Bound       T      P
CostPark2Hrs 1312 6.119    5.748    0.159            6.380 -49.66 0.000

since p-value = 0.000 < 0.05

hence

we reject the null hypothesis

we conclude that there is sufficient evidence that parking costs are significantly less than $14

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