In 2001, the mean household expenditure for energy was $1493, according to data obtained from the U.S. Energy Information Administration. An economist wanted to know whether this amount has changed significantly from its 2001 level. In a random sample of 35 households, he found the mean expenditure (in 2001 dollars) for energy during the most recent year to be $1618, with standard deviation $321.
Use Minitab Express to test the economist's hypothesis at the α = 0.05 level of significance. Report your answers to three decimal places, where applicable. (Or do it by hand)
With a P-value of (Find P-Value) ,
do we (reject or fail to reject)
the null hypothesis.
The given data (does / does not) provide significant evidence that the mean household energy expenditure is (more than / less than / different from) $1493.
With a P-value of 0.027 , we reject the null
The given data does provide significant evidence that the mean household energy expenditure is different from 1493
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