Consumers Energy states that the average electric bill across the state is $88.0

Question

Consumers Energy states that the average electric bill across the state is $88.05. You want to test the claim that the average bill amount is actually less than $88.05. The hypotheses for this situation are as follows: Null Hypothesis: 88.05, Alternative Hypothesis: < 88.05. You complete a randomized survey throughout the state a perform a one sample hypothesis test for the mean and observe a p-value of 0.9433. What is the appropriate conclusion? Conclude at the 5% level of significance. Question 8 options: 1) The true average electric bill is greater than or equal to $88.05. 2) The true average electric bill is significantly less than $88.05. 3) We did not find enough evidence to say the true average electric bill is less than $88.05. 4) We did not find enough evidence to say a significant difference exists between the true average electric bill and $88.05. 5) We did not find enough evidence to say the true average electric bill is greater than $88.05. Save

Explanation / Answer

The p value i sgreater than 0.05, fail to reject null hypothesis. There is not sufficient sample evidence to conclude that average bill maount is actually less than $88.05. Option 3).

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