Question

A consumer product magazine recently ran a story concerning the increasing price of VCR's. The story stated that VCR prices dipped in the early 1990's but now are beginning to skyrocket in price. According to the story, the average price of a VCR in 1992 was $211. Use the STATISTIX printout shown below to answer the following question regarding this story ONE-SAMPLET TEST FOR VOR PRICE NULL HYPOTHESIS:MU-211 ALTERNATIVE HYPMU > 211 MEAN STD ERROR MEAN - HO 24123 1562 3023 10 03.00 CASES INCLUDED 20 What assumption must be satisfied in order for these results to be valid? The sample of 20 VCR prices thust posses an aproximatet distribution with 19 degrees of freedom The population of all VCR prices must posses an approximatet distribution with 19 degrees of freedom The sampling distribution of the sample mean must posses an aproximately normal distribution- The population of all VCR prices must posses an approximately normal distribution

Answer 1

OPtion d is correct. we always assume that population of varibale is approximately normal distribution,