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Is it true that the mean age of students at North Campus is 25 years old? In a survey of 70 students at North Campus, the sample mean age was found to be 24.96, with a standard deviation s = 8.04. Using a .03 significance level, test the claim that mean age of students at North Campus is equal to 25. Show all steps in the hypothesis testing procedure. Clearly enumerate the null and alternative hypotheses. Show calculation of test statistic and p-value.
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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