Math Problem Statement
A poll used a sample of 100 randomly selected car owners. Within the sample, the mean time of ownership for a single car was 6.36 years with a standard deviation of 3.61 years. Test the claim by the owner of a large dealership that the mean time of ownership for all cars is less than 6.5 years. Use a 0.05 significance level.
Solution
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Math Problem Analysis
Mathematical Concepts
Hypothesis Testing
One-Sample t-test
Normal Distribution
Formulas
One-sample t-test formula: t = (x̄ - μ₀) / (s / √n)
Theorems
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Suitable Grade Level
Advanced High School