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The management of the Seaside Golf Club regularly monitors the golfers on its course for speed of play. Suppose a random sample of golfers was taken in 2011 and another random sample of golfers was selected in 2006. The results of the two samples are as follows: Based on the sample results, can the management of the Seaside Golf Club conclude that average speed of play was different in 2012 than in 2011? Conduct the appropriate hypothesis test at the 0.10 level of significance. Assume that the management of the club is willing to accept the assumption that the populations of playing times for each year are approximately normally distributed with equal variances.
Perpetuity
A type of financial instrument that pays a fixed amount of cash flows indefinitely, without a maturity date.
Compounded Monthly
A method of calculating interest in which the interest earned each month is added to the principal, and future interest is calculated on the new total.
Interest Rate
The percentage at which interest is paid by a borrower for the use of money, or the rate earned on an investment.
Annual Benefits
Benefits or returns that are received on a yearly basis from investments, insurance policies, or employee benefit programs.
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