Suppose that the average price of potatoes was Tk. 40 per kg last month. A researcher wants to find out whether the average price of potatoes has decreased this month. He collects data from a sample of 50 sellers for this month and finds that the average price is Tk. 36 per kg, with the sample standard deviation being Tk. 2. Can we conclude at the 1% level of significance that the price of potatoes has decreased?

Suppose that the average price of potatoes was Tk. 40 per kg last month. A researcher wants to find out whether the average price of potatoes has decreased this month. He collects data from a sample of 50 sellers for this month and finds that the average price is Tk. 36 per kg, with the sample standard deviation being Tk. 2. Can we conclude at the 1% level of significance that the price of potatoes has decreased?

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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