Question
For the given scenario, determine the type of error that was made, if any. (Hint: Begin by determining the null and alternative hypotheses.) Economists considered
For the given scenario, determine the type of error that was made, if any. (Hint: Begin by determining the null and alternative hypotheses.)
Economists considered $3.110 as the mean price for gallon of unleaded gasoline in the United States in a certain year. One consumer claims that the mean price for gallon of unleaded gasoline in the United States in a certain year is more than $3.110. The consumer conducts a hypothesis test and rejects the null hypothesis. Assume that in reality, the mean price for gallon of unleaded gasoline in the United States in a certain year is $3.260. Was an error made? If so, what type?
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