Statement of a problem № m40808


Based on past experience, the California Power Company forecasts that the mean residential electricity usage per household will be 700 kwh next January. In January, the company selects a simple random sample of 50 households and computes a mean and standard deviation of 715 and 50, respectively. Test at the .05 significance level to determine whether California Power s forecast is reasonable. Calculate and interpret the p-value for the test.

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