Concept explainers
For Exercises 1 through 20, perform each of the following steps.
a. State the hypotheses and identify the claim.
b. Find the critical value(s).
c. Compute the test value.
d. Make the decision.
e. Summarize the results.
Use the traditional method of hypothesis testing unless otherwise specified.
6. Trifecta Winnings A random sample of $1 Trifecta tickets at a local racetrack paid the following amounts (in dollars and cents). Is there sufficient evidence to conclude that the average Trifecta winnings exceed $50? Use α = 0.10. Assume the variable is
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