Testing Claims about Variation. In Exercises 516, test the

Chapter 8, Problem 12

(choose chapter or problem)

Testing Claims about Variation. In Exercises 516, test the given claim. Identifythe null hypothesis, alternative hypothesis, test statistic, P-value or critical value(s),conclusion about the null hypothesis, and final conclusion that addresses the originalclaim. Assume that a simple random sample is selected from a normally distributedpopulation. Analysis of Pennies In an analysis investigating the usefulness of pennies, the centsportions of 100 randomly selected credit card charges from the author are recorded, and theyhave a mean of 47.6 cents and a standard deviation of 33.5 cents. If the amounts from 0 centsto 99 cents are all equally likely, the mean is expected to be 49.5 cents and the populationstandard deviation is expected to be 28.866 cents. Use a 0.01 significance level to test theclaim that the sample is from a population with a standard deviation equal to 28.866 cents.If the amounts from 0 cents to 99 cents are all equally likely, is the requirement of a normaldistribution satisfied? If not, how does that affect the conclusion?