Prices of hybrid cars. BusinessWeek.com provides consumers with retail prices of new cars...

Prices of hybrid cars. BusinessWeek.com provides consumers with retail prices of new cars at dealers from across the country. The July 2006 prices for the hybrid Toyota Prius were obtained from a sample of 160 dealers. These 160 prices are saved in the HYBRIDCARS file.

a. Give the null and alternative hypotheses for testing whether the mean July 2006 dealer price of the Toyota Prius, μ, differs from $25,000.

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b. Data from the HYBRIDCARS file were analyzed with MINITAB. The resulting printout is shown below. Find and interpret the p-value of the test.

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c. State the appropriate conclusion for the test from part a if α = .05.

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d. State the appropriate conclusion for the test from part a if α = .01.

MINITAB output