What is the value of the test statistic

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A manufacturing company is considering the acquisition of a TR-LX61, a new robotic machine that is supposed to reduce the variable cost or unit cost of production. Since the acquisition of the TR-LX61 will involve some expenditures, management is willing to buy the machine only if they can be conviced that production costs will be less than $6.83 per unit produced. 

Based on examination of 25 randomly selected units, they obtained an average variable cost of $6.15 and a standard deviation of $0.92. 

What is the value of the test statistic to determine if production costs per unit are less than $6.83 ? (Use 3 DECIMALS)

Reference no: EM132464690

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