Answer:
The test statistic value 't' = 3.074
Step-by-step explanation:
<u><em>Step(i)</em></u>:-
Given sample size 'n' = 15
mean of the Population 'μ' = $39
mean of the sample x⁻ = $42
standard deviation of the sample 's' = $3.78
Degrees of freedom ν = n-1 = 15-1 =14
Null hypothesis : There is no significance difference between the means
H₀ : x⁻ = 'μ'
Alternative hypothesis : There is significance difference between the means
H₀ : x⁻ ≠ 'μ'
<u><em>Test statistic </em></u>
<em>t = 3.074</em>
The test value of t-statistic <em>t = 3.074</em>
<em>The calculated value </em> <em>t = 3.074 > 1.769 at 0.05 level of significance</em>
<em>null hypothesis is rejected</em>
<em>Alternative hypothesis is accepted</em>
<u><em>Final answer</em></u><em>:-</em>
There is significance difference between the means
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