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Hoping to attract more shoppers, a city builds a new public garage in the central business district. The city plans to pay for the structure
- Hoping to attract more shoppers, a city builds a new public garage in the central business district. The city plans to pay for the structure through parking fees. During a two month period containing 44 weekdays, daily fees collected averaged $136.98 with a standard deviation of $15.43. The city needs the average daily weekday fees to be at least $130 to make total payments from the fees alone.
Is there sufficient evidence at thea=.01 level of significance to indicate the city will not be able to make total payments from the fees alone and what do you conclude? What is the P-value of your test statistic?
calculate the power of your test when a = $128
Please show your work step by step! Thank you
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