Question: Hypothesis testing A study carried out in March 2019 estimated that the average expenditure in household food in Puerto Rico was $ 1,350. A similar

Hypothesis testing A study carried out in March 2019 estimated that the average expenditure in household food in Puerto Rico was $ 1,350. A similar study carried out by the students of the Statistics course, as a result of the pandemic of COVID-19 in the month of March 2020, with a random sample of 81 people who They work, found an average of $ 1,482 and a standard deviation of $ 576. Yet significance level (alpha) of 2% we can conclude that the average expenditure on food in the month of March 2020.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!