#3 Step 1: State the null and alternative hypotheses for the test. Is it, " >, =/, > "  Step 2: Compute the value of the test statistic. Round your answer to three decimal places. Step 3:

MATLAB: An Introduction with Applications
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#3

Step 1: State the null and alternative hypotheses for the test. Is it, " >, =/, > " 

Step 2: Compute the value of the test statistic. Round your answer to three decimal places.

Step 3: 

 

O
We fail to reject the null hypothesis and conclude that there is sufficient evidence at a 0.05 level of significance to support the claim that the
average price of electricity, even after adjusting for inflation, changed between 2018 and 2019.
We reject the null hypothesis and conclude that there is insufficient evidence at a 0.05 level of significance to support the claim that the average
price of electricity, even after adjusting for inflation, changed between 2018 and 2019.
We reject the null hypothesis and conclude that there is sufficient evidence at a 0.05 level of significance to support the claim that the average
O
price of electricity, even after adjusting for inflation, changed between 2018 and 2019.
We fail to reject the null hypothesis and conclude that there is insufficient evidence at a 0.05 level of significance to support the claim that the
O
average price of electricity, even after adjusting for inflation, changed between 2018 and 2019.
Transcribed Image Text:O We fail to reject the null hypothesis and conclude that there is sufficient evidence at a 0.05 level of significance to support the claim that the average price of electricity, even after adjusting for inflation, changed between 2018 and 2019. We reject the null hypothesis and conclude that there is insufficient evidence at a 0.05 level of significance to support the claim that the average price of electricity, even after adjusting for inflation, changed between 2018 and 2019. We reject the null hypothesis and conclude that there is sufficient evidence at a 0.05 level of significance to support the claim that the average O price of electricity, even after adjusting for inflation, changed between 2018 and 2019. We fail to reject the null hypothesis and conclude that there is insufficient evidence at a 0.05 level of significance to support the claim that the O average price of electricity, even after adjusting for inflation, changed between 2018 and 2019.
An economist studying inflation in electricity prices in 2018 and 2019 believes that the average price of electricity, even after adjusting for inflati
changed between these two years. To test his claim, he samples 9 different counties and records the average price of electricity in each county
from each year. He then adjusts the prices for inflation. His results are given in the following table. Test the economist's claim at the 0.05 level o
significance assuming that the population distribution of the paired differences is approximately normal. Let prices in 2018 be Population 1 and
prices in 2019 be Population 2.
Average Residential Retail Prices of Electricity ($/kWh)
2018
2019
18.79
17.31
14.39
12.89
17.72
18.25
14.56
12.64
16.16
14.23
14.25
12.57
18.51
16.69
12.54
13.06
16.35
15.87
Copy Data
Step 1 of 3: State the null and alternative hypotheses for the test. Fill in the blank below.
Ho: Pa = 0
Ha: Pa
0
Transcribed Image Text:An economist studying inflation in electricity prices in 2018 and 2019 believes that the average price of electricity, even after adjusting for inflati changed between these two years. To test his claim, he samples 9 different counties and records the average price of electricity in each county from each year. He then adjusts the prices for inflation. His results are given in the following table. Test the economist's claim at the 0.05 level o significance assuming that the population distribution of the paired differences is approximately normal. Let prices in 2018 be Population 1 and prices in 2019 be Population 2. Average Residential Retail Prices of Electricity ($/kWh) 2018 2019 18.79 17.31 14.39 12.89 17.72 18.25 14.56 12.64 16.16 14.23 14.25 12.57 18.51 16.69 12.54 13.06 16.35 15.87 Copy Data Step 1 of 3: State the null and alternative hypotheses for the test. Fill in the blank below. Ho: Pa = 0 Ha: Pa 0
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