A marketing researcher wants to estimate the mean amount spent per year ($) on Amazon.com by Amazon

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A marketing researcher wants to estimate the mean amount spent per year ($) on Amazon.com by Amazon Prime member shoppers. Suppose a random sample of 100 Amazon Prime member shoppers who recently made a purchase on Amazon.com yielded a mean amount spent of $1,500 and a standard deviation of $200.

a. Is there evidence that the population mean amount spent per year on Amazon.com by Amazon Prime member shoppers is different from $1,475? (Use a 0.05 level of significance.)

b. Determine the p-value and interpret its meaning.

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Related Book For  answer-question

Basic Business Statistics Concepts And Applications

ISBN: 9780134684840

14th Edition

Authors: Mark L. Berenson, David M. Levine, Kathryn A. Szabat, David F. Stephan

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