Mathematics, 07.04.2021 23:30 bxymichelle
An economist studying fuel costs suspected that the mean price of gasoline in her state was more than \$3$3dollar sign, 3 per gallon on a certain day. On that day, she sampled 404040 gas stations to test H_0: \mu=\$3H 0 ​ :μ=$3H, start subscript, 0, end subscript, colon, mu, equals, dollar sign, 3 versus H_\text{a}: \mu>\$3H a ​ :μ>$3H, start subscript, start text, a, end text, end subscript, colon, mu, is greater than, dollar sign, 3, where \muμmu is the mean price of gasoline per gallon that day in her state. The sample data had a mean of \bar x=\$3.04 x ˉ =$3.04x, with, \bar, on top, equals, dollar sign, 3, point, 04 and a standard deviation of s_x=\$0.39s x ​ =$0.39s, start subscript, x, end subscript, equals, dollar sign, 0, point, 39. These results produced a test statistic of t\approx0.65t≈0.65t, approximately equals, 0, point, 65 and a P-value of approximately 0.2600.2600, point, 260.
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