Answer:
The value of the test statistic is 
Step-by-step explanation:
Our test statistic is:
In which X is the sample mean, 
is the expected value, 
is the standard deviation and n is the size of the sample.
The level of ozone normally found is 7.5 parts/million (ppm).
This means that 
The mean of 24 samples is 7.8 ppm with a standard deviation of 0.7.
This means that 
Test Statistic:
The value of the test statistic is
My initial answer was $2750.45, and I will show you my calculations.
Calc : 6774.5 ÷ 100 = 67.745
67.745 × 2.7 = 182.9115
182.9115 × 22 = 4024.053
6774.5 - 4024.053 = 2750.45
= $2750.45
At first I thought this was correct, but after studying my answer I realise that the amount of interest would rise as the amount of money went up, therefore my calculations are very wrong. If I work out the answer, I will get back to you, but the calculation is more complicated than I first predicted
