[Solved] A college professor claims that the average cost of paperback textbook is greater than $27.50. A sample of 50 books has an average cost of $29.30.
Question: A college professor claims that the average cost of paperback textbook is greater than $27.50. A sample of 50 books has an average cost of $29.30. The standard deviation of the sample is $5.00. Find the P-value for the test. On the basis of the P-value, should the null hypothesis be rejected at α = 0.05?
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