A consumer product magazine recently ran a story concerning the increasing   prices of digital cameras. The story stated that digital camera prices dipped a  couple of years ago, but now are beginning to increase in price because of added  features. According to the story, the average price of all digital cameras a couple  of years ago was $215.00. A random sample of n = 200 cameras was recently  taken and entered into a spreadsheet, the average was 290 with standard  deviation 30. It was desired to test to determine if that average price of all digital  cameras is now more than $215.00. α=0.1 ( p value method)

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A consumer product magazine recently ran a story concerning the increasing  

prices of digital cameras. The story stated that digital camera prices dipped a 

couple of years ago, but now are beginning to increase in price because of added 

features. According to the story, the average price of all digital cameras a couple 

of years ago was $215.00. A random sample of n = 200 cameras was recently 

taken and entered into a spreadsheet, the average was 290 with standard 

deviation 30. It was desired to test to determine if that average price of all digital 

cameras is now more than $215.00. α=0.1 ( p value method) 

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