A car company wants to know the monthly sales made in ($000), based on the brand of vehicle. The data collected was entered on a MINITAB spreadsheet for analysis. Exhibit II below was subsequently...

You are required to test at the 5% level of significance the hypothesis that the averagemonthly earnings on Hyundai Vehicles is equal to $110,000 versus the alternative that it is different from $110,000.

iii. Compute the value of the test statistic.
iv. State the decision rule.
v. Give your decision based on the available sample evidence.
vi. Hence, state your conclusion.

Extracted text: A car company wants to know the monthly sales made in ($000), based on the brand of vehicle. The data collected was entered on a MINITAB spreadsheet for analysis. Exhibit II below was subsequently generated. Exhibit 2 Model N Mean Median Tri.Mean Std Dev S.E. Mean Hyundai 23 109 135 107.64 1.34 Toyota 27 165 124 143.65 9.5 **