[All Steps] A supplier of electrical energy claims that the mean annual expenditure of $\$ 100$ has not significantly increased over the last five years.
Question: A supplier of electrical energy claims that the mean annual expenditure of $\$ 100$ has not significantly increased over the last five years. A random sample of 15 customers shows a mean of $\$ 1320$ and a standard deviation of $\$ 230 .$ At a \(5 \%\) significance level, do the sample data indicate a significant increase?
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