Young millennials, adults aged 18 to 34, are viewed as the future of the restaurant industry. During 2011, this group consumed a mean of 192 restaurant meals per person (NPD Group website, November 7, 2012). Conduct a hypothesis test to determine if the poor economy has caused a change in the frequency of consuming restaurant meals by young millennials in 2012.
a. Formulate hypotheses that can be used to determine whether the annual mean number of restaurant meals per person has changed for young millennials in 2012.
b. Based on a sample, the NPD Group stated that the mean number of restaurant meals consumed by young millennials in 2012 was 182. Assume the sample size was 150 and that, based on past studies, the population standard deviation can be assumed to be σ = 55. Use the sample results to compute the test statistic and p-value for your hypothesis test.
c. At α = .05, what is your conclusion?