Average Childcare Costs Narrative
The public relations officer for a particular city claims the average monthly cost for childcare outside the home for a single child is $700. A potential resident is interested in whether the claim is correct. She obtains a random sample of 64 records and computes the average monthly cost of this type of childcare to be $689 with a standard deviation of $40.
-Refer to Average Childcare Costs Narrative. What effect, if any, would there be on the conclusion of the test of hypothesis in the first question if you changed to 0.05?

Question

Average Childcare Costs Narrative
The public relations officer for a particular city claims the average monthly cost for childcare outside the home for a single child is $700. A potential resident is interested in whether the claim is correct. She obtains a random sample of 64 records and computes the average monthly cost of this type of childcare to be $689 with a standard deviation of $40.
-Refer to Average Childcare Costs Narrative. What effect, if any, would there be on the conclusion of the test of hypothesis in the first question if you changed  to 0.05?

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The Answer of Average Childcare Costs Narrative
The public relations officer for a particular city claims the average monthly cost for childcare outside the home for a single child is $700. A potential resident is interested in whether the claim is correct. She obtains a random sample of 64 records and computes the average monthly cost of this type of childcare to be $689 with a standard deviation of $40.
-Refer to Average Childcare Costs Narrative. What effect, if any, would there be on the conclusion of the test of hypothesis in the first question if you changed  to 0.05?