Answered: Suppose you are interested in testing…

Name: Suppose you are interested in testing whether average monthly gasoline
Uploaded: 2024-03-20T07:07:12.000Z
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Description: Suppose you are interested in testing whether average monthly gasoline expenditure differs from $50 at the 5% significance level. You take a sample of 30 and calculate a sample mean of 51 and sample standard deviation of 12. Given this information t

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Suppose you are interested in testing whether average monthly gasoline expenditure differs from $50 at the 5% significance level. You take a sample of 30 and calculate a sample mean of 51 and sample standard deviation of 12. Given this information the null and alternative hypotheses are as follows:

H0: μ=50

H1: μ≠50

What is the p-value for this test? (Round to four decimal places. )

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