Question: The Federal Bureau of Investigation FBI compiles information on robbery
The Federal Bureau of Investigation (FBI) compiles information on robbery and property crimes by type and selected characteristic and publishes its findings in Population-at-Risk Rates and Selected Crime Indicators. According to that document, the mean value lost to purse snatching was $417 in 2004. For last year, 12 randomly selected purse-snatching offenses yielded the following values lost, to the nearest dollar.
Use a t-test to decide, at the 5% significance level, whether last year's mean value lost to purse snatching has decreased from the 2004 mean. The mean and standard deviation of the data are $404.0 and $86.8, respectively.
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