The US Department of Agriculture reports that the mean cost of raising a child from birth to age 2 in a rural area is $10,460. A team of economists believes this value is incorrect, so they select a random sample of 900 children (age 2) and find that the sample mean cost is $10,345 with a sample standard deviation of $1540. Is this significantly different than the US Department of Agriculture reports

The degrees of freedom are given by:

The p value for this case would be given by:

The p value is low and if we use a significance level of 0.05 we can reject the null hypothesis and we can conclude tha the true mean is different from 10460

Step-by-step explanation:

Information given

represent the mean height for the sample  

represent the sample standard deviation for the sample  

sample size  

represent the value to verify

t would represent the statistic

represent the p value for the test

Hypothesis to test

We want to verify if the true mean is equal to 10460, the system of hypothesis would be:  

Null hypothesis:  

Alternative hypothesis:  

The statistic is given by:

 (1)  

Replacing the info given we got:

The degrees of freedom are given by:

The p value for this case would be given by:

The p value is low and if we use a significance level of 0.05 we can reject the null hypothesis and we can conclude tha the true mean is different from 10460

answer: 1 and 3

step-by-step explanation: