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.)
Answer to relevant QuestionsRefer to Exercise 50. Suppose the sample size was 15 rather than 50. Assume the population distribution is approximately normal. Revise the test you set up and report your decision. Judge Robert Smith is accused of being “soft on crime,” especially in cases involving white collar crimes like fraud and embezzlement. The judge has responded to the accusation by insisting that the average sentence he ...A large number of rivets hold the wing of an Icarus 350 (a light aircraft model) to the fuselage. You are to conduct a spot check of the aircraft’s safety. Regulations require an average breaking strength of at least 8800 ...The competing hypotheses for a particular hypothesis test are as follows: H0: μ < 2500 Ha: μ < 2500 A random sample of size 36 is taken from the target population. The sample mean is 2525. Assume the population standard ...Lucas Lopez is auditing ABC Corporation’s accounts receivable. There are 5000 accounts in all. ABC shows a total book value of $ 2,840,000 for accounts receivable. Lucas takes a simple random sample of 100 of the 5000 ...
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