Business, 12.04.2021 18:30 carlosleblanc26
In 2001, the mean household expenditure for energy was $1493, according to data from the U. S. Energy Information Administration. An economist wants to test whether this amount has changed significantly from its 2001 level. In a random sample of 35 households, he found the mean expenditure for energy during the most recent year to be $1618, with a standard deviation $321. Conduct a hypothesis test at 10% significance level to see whether we have strong evidence to support the economist’s hypothesis.
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In 2001, the mean household expenditure for energy was $1493, according to data from the U. S. Energ...
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