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Mauricio Cruz, a wine merchant for Cruz's Spirits Emporium, wants to determine if the average price of imported wine is less than the average price of domestic wine. He obtained the data shown in the table below. Imported Wine X=$7.83 Domestic Wine X2=$10.52 5₁ = $2.23 n = 18 $2-$3.87 "-17 What is the critical value at a = 0.01?

Mauricio Cruz, a wine merchant for Cruz's Spirits Emporium, wants to determine if the average price of imported wine is less than the average price of domestic wine. He obtained the data shown in the table below. Imported Wine X=$7.83 Domestic Wine X2=$10.52 5₁ = $2.23 n = 18 $2-$3.87 "-17 What is the critical value at a = 0.01?

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Mauricio Cruz, a wine merchant for Cruz's Spirits Emporium, wants to determine if the average price of imported wine is less than the average price of domestic wine. He obtained the data shown in the table below. Imported Wine X=$7.83 Domestic Wine X2=$10.52 5₁ = $2.23 n = 18 $2-$3.87 "-17 What is the critical value at a = 0.01?
Transcribed Image Text:Mauricio Cruz, a wine merchant for Cruz's Spirits Emporium, wants to determine if the average price of imported wine is less than the average price of domestic wine. He obtained the data shown in the table below. Imported Wine X=$7.83 Domestic Wine X2=$10.52 5₁ = $2.23 n = 18 $2-$3.87 "-17 What is the critical value at a = 0.01?
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