A national online business magazine reports that the average cost of a speeding ticket in Miami, including court fees, is $220. A local police department claims that this amount has increased. To test their claim, they collect data from a simple random sample of 16 drivers who have been fined for speeding in the last year. Assuming that the distribution of speeding ticket costs is normally distributed and the population standard deviation is $14, is there sufficient evidence to support the police department's claim at the 0.02 level of significance? Speeding Ticket Costs in Miami $237 $240 $229 $207 $221 $235 $247 $234 $245 $210 $223 $218 $212 $241 $206 $247 Copy Data Step 2 of 3: Compute the value of the test statistic. Round your answer to two decimal places.
A national online business magazine reports that the average cost of a speeding ticket in Miami, including court fees, is $220. A local police department claims that this amount has increased. To test their claim, they collect data from a simple random sample of 16 drivers who have been fined for speeding in the last year. Assuming that the distribution of speeding ticket costs is normally distributed and the population standard deviation is $14, is there sufficient evidence to support the police department's claim at the 0.02 level of significance? Speeding Ticket Costs in Miami $237 $240 $229 $207 $221 $235 $247 $234 $245 $210 $223 $218 $212 $241 $206 $247 Copy Data Step 2 of 3: Compute the value of the test statistic. Round your answer to two decimal places.
Chapter19: Externalities And Public Goods
Section: Chapter Questions
Problem 19.12P
Related questions
Question
Transcribed Image Text:A national online business magazine reports that the average cost of a speeding ticket in Miami, including court fees, is $220. A local police department claims that this
amount has increased. To test their claim, they collect data from a simple random sample of 16 drivers who have been fined for speeding in the last year. Assuming that
the distribution of speeding ticket costs is normally distributed and the population standard deviation is $14, is there sufficient evidence to support the police
department's claim at the 0.02 level of significance?
Speeding Ticket Costs in Miami
$237 $240
$229 $207
$221 $235 $247 $234
$245 $210 $223 $218
$212
$241
$206
$247
Copy Data
Step 2 of 3: Compute the value of the test statistic. Round your answer to two decimal places.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 3 images
Recommended textbooks for you
Managerial Economics: Applications, Strategies an…
Economics
ISBN:
9781305506381
Author:
James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics: Applications, Strategies an…
Economics
ISBN:
9781305506381
Author:
James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
