The file Fast-Food contains the amount that a sample of fifteen customers spent for lunch ($) at

Question:

The file Fast-Food contains the amount that a sample of fifteen customers spent for lunch ($) at a fast-food restaurant:
The file FastFood contains the amount that a sample of

a. At the 0.05 level of significance, is there evidence that the mean amount spent for lunch is different from $ 6.50?

b. Determine the p-value in (a) and interpret its meaning.

c. What assumption must you make about the population distribution in order to conduct the t test in (a) and (b)?

d. Because the sample size is 15, do you need to be concerned about the shape of the population distribution when conducting the t test in (a)? Explain.

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Business Statistics A First Course

ISBN: 9780321979018

7th Edition

Authors: David M. Levine, Kathryn A. Szabat, David F. Stephan

Question Posted: