Duke Energy reported that the cost of electricity for an efficient home in a particular neighborhood of
Question:
H0: μ ≤ 104
Ha: μ > 104
a. Assume the sample data led to rejection of the null hypothesis. What would be your conclusion about the cost of electricity in the Chicago neighborhood?
b. What is the Type I error in this situation? What are the consequences of making this error?
c. What is the Type II error in this situation? What are the consequences of making this error?
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Related Book For
Statistics For Business & Economics
ISBN: 9781285846323
12th Edition
Authors: David Anderson, Dennis Sweeney, Thomas Williams, Jeffrey Camm, James Cochran
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