Prof Rea’s Exam Question 4. Show as much work as possible an…
Prof Rea’s Exam Question 4. Show as much work as possible and clearly show all four steps of a hypothesis test to earn credit: Last year, researchers determined that the average cost for health insurance for an individual in the US was $605 per month. You wonder if the average monthly cost for health insurance has decreased since last year. You randomly survey 125 adults in the US and find that they spend an average of $585 per month on health insurance. You compute the sample standard deviation to be $82. Test your claim using a 5% level of significance. Include your desmos formulas/work and show your thinking on the provided graph*. Round all calculated values to three decimal places. *No credit will be awarded for this problem if these items are missing from uploaded work.
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