Determine population in given year after steady decline
The town in mid west has been experiencing the steady population decline of 5 % per year for past decade. If there were 40750 residents in year 2011 and trend continues, determine population in the year 2027?
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Determine the p-value. (Give your answer correct to four decimal places.) Describe the appropriate conclusion. Reject the null hypothesis, there isn't significant evidence that the mean is less than 52.
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