| During a recent year the average cost of making a movie was $56 million. This year, a random sample of 15 recent action movies had an average production cost of $63 million with a variance of $81...

Extracted text: | During a recent year the average cost of making a movie was $56 million. This year, a random sample of 15 recent action movies had an average production cost of $63 million with a variance of $81 million. At the 0.01 level of significance, can it be concluded that it costs more than average to produce a movie? a. State the hypotheses and identify the claim. b. Find the critical value. c. Compute the test statistic. d. Make a decision. e. Summarize the results.