The analyst in Exercise 2 wants to know if the mean purchase amount of all transactions is

Question:

The analyst in Exercise 2 wants to know if the mean purchase amount of all transactions is at least $40.

39.05 2.73 32.92 47.51 37.91 34.35 64.48 51.96 56.95 81.58 47.80 11.72 21.57 40.83 38.24 32.98 75.16 74.30 47.54 65.62

a) What is the null hypothesis?

b) Is the alternative one- or two-sided?

c) What is the value of the test statistic?

d) What is the P-value of the test statistic?

e) What do you conclude at α = 0.05?

f) Given the confidence interval you found in Exercise 6, what might you have concluded? Explain.

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Business Statistics

ISBN: 9780133899122

3rd Canadian Edition

Authors: Norean D. Sharpe, Richard D. De Veaux, Paul F. Velleman, David Wright

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The analyst in Exercise 2 wants to know if the mean purchase amount of all transactions is

Question:

39.05 2.73 32.92 47.51 37.91 34.35 64.48 51.96 56.95 81.58 47.80 11.72 21.57 40.83 38.24 32.98 75.16 74.30 47.54 65.62

Step by Step Answer:

a b This is onesided alternative c To find the value of the test statistic use ...View the full answer

Business Statistics

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