MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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A marketing researcher wants to estimate the mean amount spent per year ($) on a web site by membership member shoppers. Suppose a random sample of
100
membership member shoppers who recently made a purchase on the web site yielded a mean amount spent of
$60
and a standard deviation of
$53.
Complete parts (a) and (b) below.a. Is there evidence that the population mean amount spent per year on the web site by membership member shoppers is different from
$53?
(Use a
0.01
level of significance.)State the null and alternative hypotheses.
H0:
μ
5353
equals=
H1:
μ
5353
not equals≠
(Type integers or decimals. Do not round. Do not include the $ symbol in your answer.)
Identify the critical value(s).
The critical value(s) is/are
2.63 comma negative 2.632.63,−2.63.
(Type an integer or a decimal. Round to two decimal places as needed. Use a comma to separate answers as needed.)
Determine the test statistic.
The test statistic,
tSTAT,
is
1.321.32.
(Type an integer or a decimal. Round to two decimal places as needed.)
State the conclusion.
Do not reject
H0.
There is
insufficient
$53.
b. Determine the p-value and interpret its meaning.
The p-value is
. 190.190.
(Type an integer or a decimal. Round to three decimal places as needed.)
Interpret the meaning of the p-value. Select the correct answer below.
The p-value is the probability of obtaining a sample mean that is equal to or more extreme than
$7
above
$53
if the null hypothesis is false.The p-value is the probability of obtaining a sample mean that is equal to or more extreme than
$7
below
$53
if the null hypothesis is false.The p-value is the probability of obtaining a sample mean that is equal to or more extreme than
$7
away from
$53
if the null hypothesis is true.The p-value is the probability of not rejecting the null hypothesis when it is false.
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