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The management of the Green Bay Packers football team would like to test the hypothesis that the ...
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The management of the Green Bay Packers football team would like to test the hypothesis that the ...
The management of the Green Bay Packers football team would like to test the hypothesis that the average price of a ticket is less than $225 on the secondary market. A random sample of 40 customers paid an average of $207 for their ticket. Assume that the actual average ticket price on the secondary market is $212.50 and the standard deviation of the price of tickets for Packers games is $43. The Green Bay Packers would like to set
α
= 0.01. Calculate the probability of a Type II error.
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Business Statistics
Edition:
2
nd
Author:
Donnelly
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