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A young man in his 20's is shopping for an engagement ring for his fiancee. His...

A young man in his 20's is shopping for an engagement ring for his fiancee. His friend tells him that the average price for an engagement ring is $10,005 with a standard deviation of $3,000, but the young man doesn't believe this. He decides to take a random sample of 40 engagement rings, and finds that the average engagement ring price is $9,779. He wants to estimate the true average cost of an engagement ring.

Which Test?

cannot do, assumptions violated

Two independent means

Two dependent means

One-sample mean

One-sample proportion

Two sample proportions

math   Statistics-And-Probability   
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Answer #1

Answer:

One-sample mean

Explanation:

For the given scenario, we have to check the claim about the population mean.

The null and alternative hypotheses for this test are given as below:

H0: µ = 10,005 versus Ha: µ ≠ 10,005

Here, we need to use one sample z test for population mean because population standard deviation is given.

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