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Ellie is a 7 year old future statistician who just lost a tooth. She is curious if inflation has increased the amount of money that
Ellie is a 7 year old future statistician who just lost a tooth. She is curious if inflation has increased the amount of money that the Tooth Fairy pays for teeth. According to the National Alliance of Guardians, the Tooth Fairy pays, on average, $3 per tooth with a standard deviation of $2. Ellie asks the kids in her 2nd grade class who have lost teeth this year how much money they got from the Tooth Fairy. The average for the sample of 8 kids is $4. Should Ellie expect to get more for her tooth than she usually gets? Use the .05 level of significance
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