Question: Our test decision is to reject the null hypothesis in favor of the alternative hypothesis. The null hypothesis stated that the average cost per square

Our test decision is to reject the null hypothesis in favor of the alternative hypothesis. The

null hypothesis stated that the average cost per square foot in the Pacific region is equal to or

higher than $280, while the alternative hypothesis claimed that it is lower. By performing a one-

sample t-test with a test statistic of -3.10 and a p-value of 0.001, we have obtained strong

evidence to support the alternative hypothesis. This indicates that the newly designed

advertisement has led to a statistically significant decrease in the average cost per square foot in

the Pacific region. Therefore, our conclusions are statistically significant, and we can confidently

assert that the advertisement has had a significant impact on reducing the average cost per square

foot in the Pacific region, supporting the salesperson's claim

re write this paragraph

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