Question: From candy to jewelry to flowers the average consumer was
From candy to jewelry to flowers, the average consumer was expected to spend $123.89 for Mother’s Day 2009, according to an April 2009 National Retail Federation’s survey. Local merchants felt this average was too high for their area and contracted an agency to conduct a study. A random sample of 60 consumers was taken at a local shopping mall the Saturday before Mother’s Day and produced a sample mean amount of $106.27. If σ = $39.50 does the sample provide sufficient evidence to support the merchants’ claim at the 0.05 level of significance?
Relevant QuestionsImagine that you are a customer living in the shopping area described in Exercise 8.121 and you need to buy a Mother’s Day gift. Identify the four possible outcomes and describe the situation involved with each outcome ...In Exercise 8.1, page 344, the heights for a random sample of 50 female American health professionals were given. a. Determine a 95% confidence interval for the mean height of all female American health professionals. ...a. What is the critical region? b. What is the critical value? Find the value of for each of the following: a. Ho: µ = 580, z = 2.10, σ = 26, n = 55 b. Ho: µ = 75, z = - 0.87, σ = 9.2, n = 35 Using the computer output and information in Exercise 8.155, determine the value of the following: a. Hypothesized value of population mean b. Sample mean c. Population standard deviation d. Test statistic
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