Question
Data available regarding how much college students paid for textbooks per year showed an average of $1,302 per year . A student researcher hypothesizes that
Data available regarding how much college students paid for textbooks per year showed an average of $1,302 per year . A student researcher hypothesizes that in 2021 expenditures have decreased primarily due to the introduction of free online textbooks. To test the hypothesis, a sample of 100 students are selected and their expenditures on textbooks is recorded. It is found that the mean of the sample studied was $1250, with a standard deviation of $280. Use a 1% level of significance.
Is there statistical evidence of a reduction in expenditures on textbooks in 2021?
a) State the appropriate test (Type z or t) [1 mark]
b) State the null hypothesis
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