An economist studying inflation in electricity prices in 2018 and 2019 believes that the average price of electricity, even after adjusting for inflation, changed between these two years. To test his claim, he samples 9 different counties and records the average price of electricity in each county from 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 of significance assuming that the population distribution of the paired differences is approximately normal. Let prices in 2018 be Population 1 and prices in 2019 be Population 2. Average Residential Retail Prices of Electricity ($/kWh) 2018 2019 12.64 13.86 14.22 12.45 14.45 12.85 17.58 15.69 13.42 11.64 15.07 14.72 15.12 14.53 11.20 10.51 18.15 16.70 Copy Data Step 2 of 3: Compute the value of the test statistic. Round your answer to three decimal places.
An economist studying inflation in electricity prices in 2018 and 2019 believes that the average price of electricity, even after adjusting for inflation, changed between these two years. To test his claim, he samples 9 different counties and records the average price of electricity in each county from each year. He then adjusts the prices for inflation. His results are given in the following table. Test the economist's claim at the 0.05 level of significance assuming that the population distribution of the paired differences is approximately normal. Let prices in 2018 be Population 1 and prices in 2019 be Population 2. Average Residential Retail Prices of Electricity ($/kWh) 2018 2019 12.64 13.86 14.22 12.45 14.45 12.85 17.58 15.69 13.42 11.64 15.07 14.72 15.12 14.53 11.20 10.51 18.15 16.70 Copy Data Step 2 of 3: Compute the value of the test statistic. Round your answer to three decimal places.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 31PPS
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Transcribed Image Text:An economist studying inflation in electricity prices in 2018 and 2019 believes that the average price of electricity, even after adjusting for inflation, changed between
these two years. To test his claim, he samples 9 different counties and records the average price of electricity in each county from 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 of significance assuming that the population distribution of the
paired differences is approximately normal. Let prices in 2018 be Population 1 and prices in 2019 be Population 2.
Average Residential Retail Prices of Electricity ($/kWh)
2018
2019
12.64
13.86
14.22
12.45
14.45
12.85
17.58
15.69
13.42
11.64
15.07
14.72
15.12
14.53
11.20
10.51
18.15
16.70
Copy Data
Step 2 of 3: Compute the value of the test statistic. Round your answer to three decimal places.
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