Question: According to ePaynews com the average online retail transaction is
According to ePaynews.com, the average online retail transaction is $ 187 (epaynews.com/.) Suppose you take a random sample of 50 online transactions made through your company’s website and find that the average transaction amount in the sample is $ 195. The sample standard deviation is $ 36. Is the sample evidence sufficient to reject the null hypothesis shown below? Use a significance level of .05. H0: μ = 187 (The average transaction amount for customers on your company’s website is the same as the average for all retail transactions on the Internet.) Ha: μ ≠ 187 (The average transaction amount for customers on your company’s website is not the same as the average for all retail transactions on the Internet.)
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