Question: We are interested in the average dollar amount lost by victims of burglary. The National Insurance Association has reported that the mean dollar lost by

We are interested in the average dollar amount lost by victims of burglary. The National Insurance Association has reported that the mean dollar lost by victims of burglary is $2.222. Assume that this is the population mean. We believe that the true population mean loss is different from this. Formally state the null and research the hypothesis we would test to investigate this question. What if we believe the dollar amount to be higher?

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