Classify that conclusion as a Type I error, a Type II error, or a correct decision, if in fact the mean cost of a 30-day supply of a certain heart medication has decreased
Classify that conclusion as a Type I error, a Type II error, or a correct decision, if in fact the mean cost of a 30-day supply of a certain heart medication has decreased
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.7: Probability
Problem 58E: What is meant by the sample space of an experiment?
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Question
1) In 2010, the average cost of a 30-day supply of a certain heart medication was $60. A researcher at a pharmaceutical company believes the cost has decreased over the last 10 years.
The hypotheses are :
Ho : = 60
Ha : < 60
Suppose that the results of the sampling lead to non-rejection of the null hypothesis. Classify that conclusion as a Type I error, a Type II error, or a correct decision, if in fact the
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