The cost of a daily newspaper varies from city to city. However, the variation among prices remains

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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% level?

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Introductory Business Statistics

ISBN: 202318

1st Edition

Authors: Alexander Holmes , Barbara Illowsky , Susan Dean

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