An online retailer believes that Canadian Internet users spend an average of $725 shopping online annually. A

Question:

An online retailer believes that Canadian Internet users spend an average of $725 shopping online annually. A survey of 2,711 Canadian Internet users reports average spending of $641, with a standard deviation of $234. You may assume that the sample data are normally distributed. At the 5% level of significance, is there evidence that annual Internet spending by Canadians is lower than the online retailer believes? How sure of your answer are you?
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Question Posted: