In 2005. Comstock Resources, a Texas oil and gas exploration company, reported that the average cost
Question: In 2005. Comstock Resources, a Texas oil and gas exploration company, reported that the average cost of drilling a well is $1.65 million. Your company claims that its new technology will reduce that average cost per well. To make your case, you cite a random sample of 40 wells that were dug in 2005 with your new technology. The average cost for the sample of wells is $1.52 million. Is this sample result sufficient to make your company's case? Use a significance level of 5% and assume the population standard deviation is $.64 million. Report the p-value for this sample result and explain what it means.
Price: $2.99
Solution: The solution file consists of 2 pages
Deliverables: Word Document
Deliverables: Word Document