#3Step 1: State the null and alternative hypotheses for the test. Is it, " , =/, " Step 2: Compute the value of the test statistic. Round your answer to three decimal places.Step 3: OWe fail to reject the null hypothesis and conclude that there is sufficient evidence at a 0.05 level of significance to support the claim that theaverage price of electricity, even after adjusting for inflation, changed between 2018 and 2019.We reject the null hypothesis and conclude that there is insufficient evidence at a 0.05 level of significance to support the claim that the averageprice of electricity, even after adjusting for inflation, changed between 2018 and 2019.We reject the null hypothesis and conclude that there is sufficient evidence at a 0.05 level of significance to support the claim that the averageOprice of electricity, even after adjusting for inflation, changed between 2018 and 2019.We fail to reject the null hypothesis and conclude that there is insufficient evidence at a 0.05 level of significance to support the claim that theOaverage price of electricity, even after adjusting for inflation, changed between 2018 and 2019. An economist studying inflation in electricity prices in 2018 and 2019 believes that the average price of electricity, even after adjusting for inflatichanged between these two years. To test his claim, he samples 9 different counties and records the average price of electricity in each countyfrom each year. He then adjusts the prices for inflation. His results are given in the following table. Test the economist's claim at the 0.05 level osignificance assuming that the population distribution of the paired differences is approximately normal. Let prices in 2018 be Population 1 andprices in 2019 be Population 2.Average Residential Retail Prices of Electricity ($/kWh)2018201918.7917.3114.3912.8917.7218.2514.5612.6416.1614.2314.2512.5718.5116.6912.5413.0616.3515.87Copy DataStep 1 of 3: State the null and alternative hypotheses for the test. Fill in the blank below.Ho: Pa = 0Ha: Pa0

Question

#3Step 1: State the null and alternative hypotheses for the test. Is it, &#34; >, =/, > &#34; Step 2: Compute the value of the test statistic. Round your answer to three decimal places.Step 3: OWe fail to reject the null hypothesis and conclude that there is sufficient evidence at a 0.05 level of significance to support the claim that theaverage price of electricity, even after adjusting for inflation, changed between 2018 and 2019.We reject the null hypothesis and conclude that there is insufficient evidence at a 0.05 level of significance to support the claim that the averageprice of electricity, even after adjusting for inflation, changed between 2018 and 2019.We reject the null hypothesis and conclude that there is sufficient evidence at a 0.05 level of significance to support the claim that the averageOprice of electricity, even after adjusting for inflation, changed between 2018 and 2019.We fail to reject the null hypothesis and conclude that there is insufficient evidence at a 0.05 level of significance to support the claim that theOaverage price of electricity, even after adjusting for inflation, changed between 2018 and 2019. An economist studying inflation in electricity prices in 2018 and 2019 believes that the average price of electricity, even after adjusting for inflatichanged between these two years. To test his claim, he samples 9 different counties and records the average price of electricity in each countyfrom each year. He then adjusts the prices for inflation. His results are given in the following table. Test the economist's claim at the 0.05 level osignificance assuming that the population distribution of the paired differences is approximately normal. Let prices in 2018 be Population 1 andprices in 2019 be Population 2.Average Residential Retail Prices of Electricity ($/kWh)2018201918.7917.3114.3912.8917.7218.2514.5612.6416.1614.2314.2512.5718.5116.6912.5413.0616.3515.87Copy DataStep 1 of 3: State the null and alternative hypotheses for the test. Fill in the blank below.Ho: Pa = 0Ha: Pa0

Accepted Answer

Answered: Image /qna-images/answer/41d5574b-f2f4-40c1-af7d-c67ac8466bec.jpg

#3 Step 1: State the null and alternative hypotheses for the test. Is it, " >, =/, > " Step 2: Compute the value of the test statistic. Round your answer to three decimal places. Step 3: