Confidence interval to test the null hypothesis


Do you want to own your own candy store? Start up costs (units in $1,000) for a random sample of candy stores are:

{95, 173, 129, 95, 75, 94, 116, 100, 85}

Employ an 80% confidence interval to test the null hypothesis that the mean start up cost is 118. Justify your answer.

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Basic Statistics: Confidence interval to test the null hypothesis
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