Moran Wade
03/10/2023 · Elementary School
Cost of Rolex Watches The average cost of a Rolex watch is \( \$ 7521 \). A researcher selected a random sample of 40 jewelry stores and found the average cost of Rolex watches was \( \$ 7331 \). If \( \sigma=\$ 79 \) and \( \alpha=0.05 \), can it be concluded that the average cost of a Rolex watch in that area is less than \( \$ 7521 \) ? Part: \( 0 / 5 \)
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The t-statistic is approximately -15.21, indicating that the average cost of a Rolex watch in the selected area is less than $7521.
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