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According to a national study, students spend an average of $100 a month on public transit with a population standard deviation of $20. You believe
According to a national study, students spend an average of $100 a month on public transit with a population standard deviation of $20. You believe students in your school spend more on public transit than the national average. You took a random sample of 64 students and the sample spent an average of $104. Test the hypothesis at 1% significance level. The correct decision is a) reject the null hypothesis and conclude that the average amount spent by students on public transit is significantly different from $100. b) reject the null hypothesis and conclude that the average amount spent by students on public transit is significantly less than $100. c) accept the null hypothesis and conclude that the average amount spent by students on public transit is not significantly different from $100. d) reject the null hypothesis and conclude that the average amount spent by students on public transit is significantly more than $100. e) accept the null hypothesis and conclude that the average amount spent by students on public transit is more than $100
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