The average cost of owning and operating an automobile is $8121 per 15,000 miles including fixed and variable costs. A random survey of 40 automobile owners revealed an average cost of $8350 with a population standard deviation of $730. Is there sufficient evidence to conclude that the average is greater than $8121? Use α = 0.01.
The average cost of owning and operating an automobile is $8121 per 15,000 miles including fixed and variable costs. A random survey of 40 automobile owners revealed an average cost of $8350 with a population standard deviation of $730. Is there sufficient evidence to conclude that the average is greater than $8121? Use α = 0.01.
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter13: Probability And Calculus
Section13.3: Special Probability Density Functions
Problem 8E
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The average cost of owning and operating an automobile is $8121 per 15,000 miles
including fixed and variable costs. A random survey of 40 automobile owners revealed an
average cost of $8350 with a population standard deviation of $730. Is there sufficient
evidence to conclude that the average is greater than $8121? Use α = 0.01.
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