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Claim: The average amount of money lost by a casino patron is $250. A random sample of 9 revealed a mean of 267.96 dollars and
Claim: The average amount of money lost by a casino patron is $250.
A random sample of 9 revealed a mean of 267.96 dollars and a sample standard deviation of 30. Use the traditional method at a 5% significance level to test the claim.
What is the critical value, test statistic and conclusion.
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