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Energy Consumption: In 2001, the mean household expenditure for energy was $1450 (U.S. Department of Justice data). An economist wanted to know if this amount
Energy Consumption: In 2001, the mean household expenditure for energy was $1450 (U.S. Department of Justice data). An economist wanted to know if this amount had changed significantly in 2015, so he selected a random sample of 35 households with a mean expenditure of $1620 and a standard deviation of $315. Is the mean household expenditure for energy in 2015 different than $1450 (mean in 2001)? Use a 0.05 significance level.
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