Use a T-Test to Test the Claim μ = $\mathrm { n } = 12 , \overline { \mathrm { x } } = 18.9 , \text { and } \mathrm { s } = 2.1$

question 88

Essay

Use a t-test to test the claim μ = 19.4 at α = 0.01 given the sample statistics $\mathrm { n } = 12 , \overline { \mathrm { x } } = 18.9 , \text { and } \mathrm { s } = 2.1$ Round the test statistic to the nearest thousandth .

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Definitions:

Break-even

The point at which revenue received equals the costs associated with receiving the revenue, resulting in no net profit or loss.

Net Operating Income

Earnings before interest and taxes, representing the profit generated from normal business operations.

Sales Dollars

The total monetary value of sales transactions made by a business within a specific period.

Break-even

The point at which total revenues equal total costs, resulting in no profit or loss.