A random sample of 20 gas stations was selected to estimate the gas prices in the US and had an average of $3.40 and a standard deviation of $0.22. Test at a 10% alpha level if the true average price is under $3.50. What type of error could have occurred? And what are the chances of that happening? Type I Type II beta 1- alpha alpha Type III

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Question
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A random sample of 20 gas stations was selected to estimate the gas prices in the
US and had an average of $3.40 and a standard deviation of $0.22. Test at a 10%
alpha level if the true average price is under $3.50.
What type of error could have occurred? And what are the chances of that
happening?
Type I
Type II
beta
1- alpha
alpha
Type III
Transcribed Image Text:A random sample of 20 gas stations was selected to estimate the gas prices in the US and had an average of $3.40 and a standard deviation of $0.22. Test at a 10% alpha level if the true average price is under $3.50. What type of error could have occurred? And what are the chances of that happening? Type I Type II beta 1- alpha alpha Type III
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