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It is widely assumed that the average cost to produce a film is $60 million. A random sample of 15 action movies was selected and
It is widely assumed that the average cost to produce a film is $60 million. A random sample of 15 action movies was selected and they had an average production cost of $62.3 million with a standard deviation of $3.25 million. At the 0.05 level of significance, can it be concluded that it costs more than average to produce an action movie?
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