An economist conducted a hypothesis test to test the claim that the average cost of eating a meal away from home decreased from 2009 to 2010. The average cost of eating a meal away from home in 2009 was $7.15 per person per meal. Assume that all conditions for testing have been met. He used technology to complete the hypothesis test and the p-value is 0.0315. Following is his null and alternative hypothesis and the output from his graphing calculator. H 0: μ = $7.15
H 1: μ < $7.15
Choose the statement that contains the correct conclusion regarding the hypothesis and the original claim.
a. The level of significance is α =0.05 Fail to reject the null hypothesis; there is sufficient evidence to support the claim that the average cost of eating away from home has decreased since 2009.
b. Reject the null hypothesis; there is not sufficient evidence to support the claim that the average cost of eating away from home has decreased since 2009.
c. Fail to reject the null hypothesis; there is not sufficient evidence to support the claim that the average cost of eating away from home has decreased since 2009.
d. Reject the null hypothesis; there is sufficient evidence to support the claim that the average cost of eating away from home has decreased since 2009