Step 1 of 3 : State the null and alternative hypotheses for the test. Fill in the blank below.H0: μd=0Ha: μd⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯0Step 2:What is the test statistic?Step 3:Do we reject the null hypothesis? Is there sufficient or insufficient data? An economist studying inflation in electricity prices in 2018 and 2019 believes that the average price of electricity, even after adjusting for inflation, changedbetween these two years. To test his claim, he samples 9 different counties and records the average price of electricity in each county from each year. He thenadjusts the prices for inflation. His results are given in the following table. Test the economist's claim at the 0.10 level of significance assuming that the populationdistribution of the paired differences is approximately normal. Let prices in 2018 be Population 1 and prices in 2019 be Population 2.Average Residential Retail Prices of Electricity ($/kWh)2018201911.9113.8117.0718.7012.8414.3314.6915.5818.0417.3312.8913.1712.1912.0513.3211.5617.7719.72Copy DataStep 1 of 3: State the null and alternative hypotheses for the test. Fill in the blank below.Но :на= 0На :На,

Name: Step 1 of 3 : State the null and alternative hypotheses for the test.
Uploaded: 2024-03-20T07:07:12.000Z
Channel: Bartleby
Description: Step 1 of 3 : State the null and alternative hypotheses for the test. Fill in the blank below.H0: μd=0Ha: μd⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯0Step 2:What is the test statistic?Step 3:Do we reject the null hypothesis? Is there sufficient or insufficient data? An econo