A 2012 survey by Business Week found that Massachusetts residents spent an average of $860.70 on the
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A 2012 survey by Business Week found that Massachusetts residents spent an average of $860.70 on the lottery, more than three times the U.S. average. A researcher at a Boston think tank believes that Massachusetts residents spend less than this amount. He surveys 100 Massachusetts residents and asks them about their annual expenditures on the lottery.
a. Specify the competing hypotheses to test the researcher’s claim.
b. Calculate the value of the test statistic and the p-value.
c. At the 10% significance level, do the data support the researcher’s claim? Explain.
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Related Book For
Business Analytics Communicating With Numbers
ISBN: 9781260785005
1st Edition
Authors: Sanjiv Jaggia, Alison Kelly, Kevin Lertwachara, Leida Chen
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