Question: One way developers continue to make money off their consumers for free-to-play games is through in-game purchases such as character skins, emotes, accessories, etc. One

One way developers continue to make money off their consumers for free-to-play games is through in-game purchases such as character skins, emotes, accessories, etc. One study claimed that, on average, players spend around $204 a year on in-game purchases. To determine if this is true, a random sample of 41 consumers showed that in a year they spent a sample mean x = $209 with sample standard deviation s = $13.85. Use a 5% level of significance to test the claim that the yearly mean spending by consumers on in-game purchases is greater than $204. A button hyperlink to the SALT program that reads: Use SALT. (a) What is the level of significance? 0.05 State the null and alternate hypotheses (in dollars). (Enter != for as needed.) H0: H1: (b) What sampling distribution will you use? Explain the rationale for your choice of sampling distribution. The Student's t, since the sample size is large and ???? is unknown. The standard normal, since the sample size is large and ???? is unknown. The standard normal, since the sample size is large and ???? is known. The Student's t, since the sample size is large and ???? is known. Compute the appropriate sampling distribution value of the sample test statistic. (Round your answer to two decimal places.) (c) Estimate the P-value. P-value > 0.250 0.100 < P-value < 0.250 0.050 < P-value < 0.100 0.010 < P-value < 0.050 P-value < 0.010 Sketch the sampling distribution and show the area corresponding to the P-value

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock