It is suggested that the mean one-day travel expense by tourists in Moscow is $500 (assume all one-day travel expenses in Moscow are approximately normally distributed). In a random sample of 16...

It is suggested that the mean one-day travel expense by tourists in Moscow is $500 (assume all one-day travel expenses in Moscow are approximately normally distributed). In a random sample of 16 Moscow tourists, the sample mean one-day travel expense was $482 with a sample standard deviations = 22.5. Our goal is to test whether or not the mean one-day travel expense is $500 or not.

Real life conclusion?

A) We lack evidence to suggest that the mean one-day travel expense for Moscow tourists is not $500.

B) The mean one-day travel expense is $4820

C) The mean one-day travel expense is $500

D) Evidence strongly suggests that the mean one-day travel expense for Moscow tourists is not $500.

Jun 05, 2022

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It is suggested that the mean one-day travel expense by tourists in Moscow is $500 (assume all one-day travel expenses in Moscow are approximately normally distributed). In a random sample of 16...

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