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Determine whether or not the information in sample

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Reference no: EM132155452

Suppose your variable was sampled from a (much) larger population. Suppose also that the mean of this population is claimed to be 5% lower than whatever the mean of your sample is. Determine whether or not the information in your sample provides strong statistical evidence that the population mean is actually higher than claimed.

For this question, the following variables are known:

  • Sample Mean: 0.20
  • Population Mean: 0.20-(5%*0.20)=0.19
  • Sample Size: 124
  • Standard Deviation: 0.08

Reference no: EM132155452

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