According to BIGresearch, holiday shoppers spent an average of $ 373 over the Thanksgiving weekend in 2008.
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According to BIGresearch, holiday shoppers spent an average of $ 373 over the Thanksgiving weekend in 2008. The following data show the amount spent by a random sample of holiday shoppers during the same weekend in 2014:
a. Test the hypothesis that that shoppers spent less than an average of $ 373 over the Thanksgiving weekend in 2014 using σ = 0.05.
b. Estimate the p value for this test using Table 5 in Appendix A.
c. Determine the precise p value for this test using Excel.
d. Use PHStat to validate these results.
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