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Standard deviation of billion dollars

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In the past decade the cattle ranching industry in colorado has held steady with a mean total cash receipt of about 2.7 billion dollars annually. A sample of 30 ranches has a mean total cash receipt of 2.85 billion dollars with standard deviation of .55 billion dollars. Is the cattle ranching worth expanding? State the hypothesis, test statistic, and p-value.

Reference no: EM132518527

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