Question
Which is cheaper: eating out or dining in? The mean cost of a flank steak, broccoli, and rice bought at the grocery store is $13.04
Which is cheaper: eating out or dining in? The mean cost of a flank steak, broccoli, and rice bought at the grocery store is $13.04 (Money.msn website, November 7, 2012). A sample of 36 neighborhood restaurants showed a mean price of $12.75 and a standard deviation of $2 for a comparable restaurant meal.At the .05 level of significance, test to determine whether the sample data support the conclusion that the mean cost of a restaurant meal is less than fixing a comparable meal at home.
State the null and alternative hypotheses
State the rejection rule
Calculate the test statistic and state your conclusion
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