During a recent year the average cost of making a movie was $54.8 million. This year, a random sample of 15 recent action movies had an average production cost of $62.3 million with a variance of $90.25 million. At the 0.05 level of signicance, can it be concluded that it costs more than average to produce an action movie?
Group of answer choices
A.P-value = 0.0043; reject H0
B.P-value = 0.0023; reject H0
C.P-value = 0.0089; reject H0
D.P-value = 0.0732; fail to reject H0
The statistical software output for this problem is :
One sample T summary hypothesis test:
μ : Mean of population
H0 : μ = 54.8
HA : μ > 54.8
Hypothesis test results:
| Mean | Sample Mean | Std. Err. | DF | T-Stat | P-value |
|---|---|---|---|---|---|
| μ | 62.3 | 2.4528895 | 14 | 3.0576184 | 0.0043 |
A.P-value = 0.0043; reject H0
During a recent year the average cost of making a movie was $54.8 million. This year,...
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