The file FastFood contains the amount that a sample of nine customers spent for lunch ($) at a fast-food restaurant:
4.20 5.03 5.86 6.45 7.38 7.54 8.46 8.47 9.87
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 9, 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...
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Question Posted: March 29, 2016 06:30:46