
MATLAB: An Introduction with Applications
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A Rollercoaster’s auditors estimate that the average daily loss from those illegally riding without tickets is at least $300, but wants to determine the accuracy of this statistic. The company researcher takes a random sample of losses over 64 days and finds that = $298 and s = $25.
- a) Test at α = 0.05.
Be sure you cover all steps: hypothesis, critical value, acceptance
- b) (Unrelated to a’s results) Construct a 95% confidence interval of losses.
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