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Suppose the population of all public Universities shows the annual parking fee per student is normally distributed with a mean of $110 with a standard deviation of $18.If a random sample of size 49 is drawn from the population, the probability of drawing a sample with a mean of more than $115 is closest to _______.
Degrees of Freedom
The number of independent values or quantities which can be assigned to a statistical distribution, affecting the shape of the distribution.
P-values
P-values provide the probability of obtaining an effect at least as extreme as the one in your sample data, assuming the truth of the null hypothesis.
Standard Error
A statistic that measures the average distance that a sample statistic, such as the mean, deviates from the actual population mean.
Alternative Hypothesis
A statement that contradicts the null hypothesis and is tested directly in a hypothesis testing framework, assuming the null hypothesis is false.
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