Question: An analyst collected data from 25 randomly selected transactions and found the purchase amounts(in $). The mean is $24.49 and the standard deviation is $13.29.

An analyst collected data from 25 randomly selected transactions and found the purchase amounts(in $). The mean is $24.49 and the standard deviation is $13.29. The analyst wants to know if the mean purchase amount of all transactions is at least $18. Use the given information to complete parts a through e.

40.11

39.36

4.21

15.05

16.59

22.76

28.09

37.77

25.55

7.67

10.29

27.71

8.41

3.27

14.51

26.92

5.82

45.85

38.89

29.73

33.47

29.06

24.24

47.84

28.98

a) What is the nullhypothesis?

H0:

b) Is the alternativeone- ortwo-sided?

The alternative hypothesis is ___.

c) What is the value of the teststatistic?

The test statistic is ___.

d) What is theP-value of the teststatistic?

P-value = ___.

e) What do you conclude at =0.005?

TheP-value is ___ , so ___ the null hypothesis. There is ___ evidence to conclude that the mean purchase amount of all transactions is greater than $18.

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