Solved: Mean cost of raising a child from birth to age, Basic Statistics

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Mean cost of raising a child from birth to age

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Q: The US Department of Agriculture reports that the mean cost of raising a child from birth to age 2 in a rural area is $8,390. You believe that this value is incorrect, so you select a random sample of 900 children (age 2) and find that the mean cost is $8,275 with a standard deviation of $1,540. At α= 0.05, is there enough evidence to conclude that the mean cost is different from $8,390?

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Basic Statistics: Mean cost of raising a child from birth to age

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