State your conclusion to the following hypothesis test. An economist conducted a hypothesis test on the claim that the average cost of eating a meal away from home decreased from 2015 to 2016. The...

8)State your conclusion to the following hypothesis test.<br>An economist conducted a hypothesis test on the claim that the average cost of<br>eating a meal away from home decreased from 2015 to 2016. The average cost of<br>eating a meal away from home in 2015 was $8.15 per person per meal. He used<br>technology to complete the hypothesis test at the 0.05 level of significance and<br>found a p-value = 0.07.<br>Assume that all conditions for testing have been met and choose the statement that<br>contains the correct conclusion.<br>There is not sufficient evidence to support the claim that the average cost of<br>eating away from home has not changed since 2015.<br>There is sufficient evidence to support the claim that the average cost of eating<br>away from home has not changed since 2015.<br>There is not sufficient evidence to support the claim that the average cost of<br>eating away from home has decreased since 2015.<br>There is sufficient evidence to support the claim that the average cost of eating<br>away from home has decreased since 2015.<br>

Extracted text: State your conclusion to the following hypothesis test. An economist conducted a hypothesis test on the claim that the average cost of eating a meal away from home decreased from 2015 to 2016. The average cost of eating a meal away from home in 2015 was $8.15 per person per meal. He used technology to complete the hypothesis test at the 0.05 level of significance and found a p-value = 0.07. Assume that all conditions for testing have been met and choose the statement that contains the correct conclusion. There is not sufficient evidence to support the claim that the average cost of eating away from home has not changed since 2015. There is sufficient evidence to support the claim that the average cost of eating away from home has not changed since 2015. There is not sufficient evidence to support the claim that the average cost of eating away from home has decreased since 2015. There is sufficient evidence to support the claim that the average cost of eating away from home has decreased since 2015.

Jun 03, 2022
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