Refer to the Buena School District bus data.
a. Select the variable for the number of miles traveled last month. Conduct a test of hypothesis to determine whether the mean number of miles traveled is equal to 840. Use the .01 significance level. Find the p-value and explain what it means.
b. Using the maintenance cost variable, conduct a test of hypothesis to determine whether the mean maintenance cost is less than $500 at the .05 significance level. Determine the p-value and interpret the result.
For problems requiring computations, please ensure that your Excel file includes the associated cell computations and/or statistics output. This information is needed in order to receive full credit on these problems.
Lind, D., Marchel, W., & Wathen, S. (2015). Statistical Techniques in Business and Economics (16th ed.). McGraw-Hill Education