Full Hypothesis Test Examples · Exercise 16
The cost of a daily newspaper varies from city to city. However, the variation among prices remains steady with a standard deviation of 20¢. A study was done to test the claim that the mean cost of a daily newspaper is $1.00. Twelve costs yield a mean cost of 95¢ with a standard deviation of 18¢. Do the data support the claim at the 1% level?
This is an open-ended exercise: its source gives no single answer.
OpenStax, Introductory Business Statistics 2e · §9.4 Full Hypothesis Test Examples · Exercise 16
No hints for this one.
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