Exhibit 20.1.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. Refer to Exhibit 20.1.Using the p-value approach and ,the appropriate conclusion is:
A)Reject the null hypothesis,cannot conclude the median sale price is greater than $150
B)Do not reject the null hypothesis,cannot conclude the median sale price is greater than $150
C)Do not reject the null hypothesis,conclude the median sale price is greater than $150
D)Reject the null hypothesis,conclude the median sale price is greater than $150

Question

Exhibit 20.1.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.  Refer to Exhibit 20.1.Using the p-value approach and  ,the appropriate conclusion is:
A)Reject the null hypothesis,cannot conclude the median sale price is greater than $150 
B)Do not reject the null hypothesis,cannot conclude the median sale price is greater than $150 
C)Do not reject the null hypothesis,conclude the median sale price is greater than $150 
D)Reject the null hypothesis,conclude the median sale price is greater than $150

Quizplus · Accepted Answer

The Answer of Exhibit 20.1.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.  Refer to Exhibit 20.1.Using the p-value approach and  ,the appropriate conclusion is:
A)Reject the null hypothesis,cannot conclude the median sale price is greater than $150 
B)Do not reject the null hypothesis,cannot conclude the median sale price is greater than $150 
C)Do not reject the null hypothesis,conclude the median sale price is greater than $150 
D)Reject the null hypothesis,conclude the median sale price is greater than $150