It is widely assumed that the average cost to produce a film is $60 million. A random sample of 15 action movies was selected and they had an average production cost of $62.3 million with a standard deviation of $3.25 million. At the 0.05 level of significance, can it be concluded that it costs more than average to produce an action movie?
It is widely assumed that the average cost to produce a film is $60 million. A random sample of 15 action movies was selected and they had an average production cost of $62.3 million with a standard deviation of $3.25 million. At the 0.05 level of significance, can it be concluded that it costs more than average to produce an action movie?
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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It is widely assumed that the average cost to produce a film is $60 million. A random sample of 15 action movies was selected and they had an average production cost of $62.3 million with a standard deviation of $3.25 million. At the 0.05 level of significance, can it be concluded that it costs more than average to produce an action movie?
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