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Metropolitan Press hypothesizes that the average life of its largest Web press is 14,500 hours. They know that the standard deviation of press life is
Metropolitan Press hypothesizes that the average life of its largest Web press is 14,500 hours. They know that the standard deviation of press life is 2,100 hours. From a sample of 25 presses, the company find sample mean of 13,000 hours. At a 0.01 significance level, should the company conclude that the average life of the presses is less than the hypothesized 14,500 hours?
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