You are interested in determining whether the mean price of electricity offered

Question

You are interested in determining whether the mean price of electricity offered by solar companies is different in the southern he northern states. For the southern states, the average price is 12.2 cents per kWh (kilowatt hour) and the standard deviation se a significance level a -0.10 and assuming the values are normally distributed in both populations, the critical t value is O 1.330 states than in the northern states. You select a random sample of eight solar companies from the southern states and 11 from 8 0.8 cents per kWh. For the northern states, the average and standard deviation are 11.7 and 1.0 cents per kWh respectively. If you O 1.729 O 1.734 1.740 O 1.747

Explanation / Answer

Use Excel function to find critical value

T.INV(0.90+(0.10/2),8+11-2)

= 1.740

Option D is Correct

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