The Venkanarasimarajuvaripeta Publishing Company collects information on the retail prices of books and is a respected and reliable publisher of its findings. Up until 2015, the mean retail price for all books was $ 43.50 with a standard deviation of $ 7.61. In 2018, retail prices for 40 randomly selected poetry books was $ 46.93. At the 1`% significance level, do the data provide sufficient evidence to conclude that this year’s mean price of all poetry books has increased since 2015?
The Venkanarasimarajuvaripeta Publishing Company collects information on the retail prices of books and is a respected and reliable publisher of its findings. Up until 2015, the mean retail price for all books was $ 43.50 with a standard deviation of $ 7.61. In 2018, retail prices for 40 randomly selected poetry books was $ 46.93. At the 1`% significance level, do the data provide sufficient evidence to conclude that this year’s mean price of all poetry books has increased since 2015?
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 7PPS
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6) The Venkanarasimarajuvaripeta Publishing Company collects information on the retail prices of books and is a respected and reliable publisher of its findings. Up until 2015, the mean retail price for all books was $ 43.50 with a standard deviation of $ 7.61. In 2018, retail prices for 40 randomly selected poetry books was $ 46.93. At the 1`% significance level, do the data provide sufficient evidence to conclude that this year’s mean price of all poetry books has increased since 2015?
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