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lolili99 lolili99
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The management of the Green Bay Packers football team would like to test the hypothesis that the standard deviation for the price of a ticket equals $50 on the secondary market. The prices from a random sample of 20 tickets sold on the secondary market were recorded. The standard deviation of this sample was found to be $68. Test this hypothesis using α = 0.05.
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Business Statistics


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dora19dora19
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Because χ2 = 35.14 is more than the Upper  = 32.852 for a two-tail test, we reject the null hypothesis. We have enough evidence to conclude that the standard deviation for the price of a ticket does not equal $50.

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