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(Solved): According to Time magazine, in April 2014 the average gas price in the U.S. was $ 3.70. A financial ...



According to Time magazine, in April 2014 the average gas price in the U.S. was $ 3.70. A financial analyst believes that the average gas price is different today. Please state the null and alternative hypothesis. a) Explain what it would mean to make a Type I error. b) Explain what it would mean to make a Type II error.



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