A marketing researcher wants to estimate the mean amount spent per year ($) on Amazon.com by Amazon
Question:
A marketing researcher wants to estimate the mean amount spent per year ($) on Amazon.com by Amazon Prime member shoppers. Suppose a random sample of 100 Amazon Prime member shoppers who recently made a purchase on Amazon.com yielded a mean amount spent of $1,500 and a standard deviation of $200.
a. Is there evidence that the population mean amount spent per year on Amazon.com by Amazon Prime member shoppers is different from $1,475? (Use a 0.05 level of significance.)
b. Determine the p-value and interpret its meaning.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Basic Business Statistics Concepts And Applications
ISBN: 9780134684840
14th Edition
Authors: Mark L. Berenson, David M. Levine, Kathryn A. Szabat, David F. Stephan
Question Posted: