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9.5 Exercise 31

Avg difficulty 2.5

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 percent level?

OpenStax Statistics, 9.5 Additional Information and Full Hypothesis Test Examples, exercise 31

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Adapted from Statistics © 2022 Rice University. Licensed under CC BY 4.0. Source: Statistics. Imported at revision 7dea80a.