A pawn shop claims to sell used Kindles for about the same price as Amazon or eBay. Both online retailers sell used Kindles for around $150. Below are recent Kindle sales prices for the pawn shop. Using the critical value approach and α = 0.05, the appropriate conclusion is ________.
A) to reject the null hypothesis; conclude the median sale price is greater than $150
B) do not reject the null hypothesis; we cannot conclude the median sale price is greater than $150
C) to reject the null hypothesis; we cannot conclude the median sale price is greater than $150
D) do not reject the null hypothesis; conclude the median sale price is greater than $150

Question

A pawn shop claims to sell used Kindles for about the same price as Amazon or eBay. Both online retailers sell used Kindles for around $150. Below are recent Kindle sales prices for the pawn shop.  Using the critical value approach and α = 0.05, the appropriate conclusion is ________.
A) to reject the null hypothesis; conclude the median sale price is greater than $150 
B) do not reject the null hypothesis; we cannot conclude the median sale price is greater than $150 
C) to reject the null hypothesis; we cannot conclude the median sale price is greater than $150 
D) do not reject the null hypothesis; conclude the median sale price is greater than $150

Quizplus · Accepted Answer

The Answer of A pawn shop claims to sell used Kindles for about the same price as Amazon or eBay. Both online retailers sell used Kindles for around $150. Below are recent Kindle sales prices for the pawn shop.  Using the critical value approach and α = 0.05, the appropriate conclusion is ________.
A) to reject the null hypothesis; conclude the median sale price is greater than $150 
B) do not reject the null hypothesis; we cannot conclude the median sale price is greater than $150 
C) to reject the null hypothesis; we cannot conclude the median sale price is greater than $150 
D) do not reject the null hypothesis; conclude the median sale price is greater than $150

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