Testing Hypotheses
In Exercises 13–24, assume that a simple random sample has been selected and test the given claim. Unless specified by your instructor, use either the P-value method or the critical value method for testing hypotheses. Identify the null and alternative hypotheses, test statistic, P-value (or range of P-values), or critical value(s), and state the final conclusion that addresses the original claim.
Taxi Fares For the first 40 taxi fares (dollars) listed in Data Set 32 “Taxis” from Appendix B, the mean is $12.035 and the standard deviation is $8.361. Use a 0.05 significance level to test the claim that the mean cost of a taxicab ride in New York City is less than $15.00.