Answer:
Since p >0.05 at 5% significance level we reject that it is cheaper to eat at a restaurant than to cook the meal yourself!
Step-by-step explanation:
Given that the mean cost of a steak, broccoli, and ride at the grocery store is $13.04.
Sample size n = 100
Sample mean = [tex]\bar x = 12.75\\s=2[/tex]
Std error of sample = [tex]\frac{2}{\sqrt{100} } =0.20[/tex]
[tex]H_0: \bar x = 13.04\\H_a: \bar X <13.04[/tex]
(Left tailed test)
Mean difference = [tex]13.04-12.75=0.29[/tex]
Test statistic = t = mean diff/std error
= [tex]\frac{0.29}{0.20} =1.45[/tex]
p value one tailed =0.075
Since p >0.05 at 5% significance level we reject that it is cheaper to eat at a restaurant than to cook the meal yourself!
