It Is Estimated That the Average Person in the United

question 98

Short Answer

It is estimated that the average person in the United States uses 123 gallons of water per day.Some environmentalists believe this figure is too high and conduct a survey of 40 randomly selected Americans.They find a mean of 113.03 gallons and a population standard deviation of 25.99 gallons.Calculate the p-value for this test statistic,and test the hypothesis at α = .01.

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Definitions:

Marginal Utility

The gain in satisfaction or benefit from consuming one additional unit of a good or service.

Soft Drinks

Beverages that are non-alcoholic and typically carbonated, often containing sugar, flavorings, and acids.

Marginal Utility

The additional satisfaction or utility gained from consuming an additional unit of a good or service.

Utility Per Dollar

Represents the amount of satisfaction or pleasure received per unit of expenditure.