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12-5. Last year average monthly expenditure per household on a certain product was $12.97. Has there been a statistically significant change in average household expenditure

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12-5. Last year average monthly expenditure per household on a certain product was $12.97. Has there been a statistically significant change in average household expenditure for this year? A sample of size n = 25 yielded

¯x = $11.22 with s = $0.95. Use α = 0.01.

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