4. The cost of a daily newspaper varies from city to city. However, the variation among prices remains steady with a standard deviation of 18c. A study was done to test the claim that the mean cost of a daily newspaper is $1.00. Twelve costs yield a mean cost of 93e with a standard deviation of 17e. Do the data support the claim at the 1% level?

MATLAB: An Introduction with Applications
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Author:Amos Gilat
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4. The cost of a daily newspaper varies from city to city. However, the variation among
prices remains steady with a standard deviation of 18c. A study was done to test the
claim that the mean cost of a daily newspaper is $1.00. Twelve costs yield a mean
cost of 93¢ with a standard deviation of 17¢. Do the data support the claim at the 1%
level?
Transcribed Image Text:4. The cost of a daily newspaper varies from city to city. However, the variation among prices remains steady with a standard deviation of 18c. A study was done to test the claim that the mean cost of a daily newspaper is $1.00. Twelve costs yield a mean cost of 93¢ with a standard deviation of 17¢. Do the data support the claim at the 1% level?
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