The U.S. Bureau of Labor Statistics (www.bls.gov) released its Consumer Expenditures in 2006 report in October 2008.
Question:
The U.S. Bureau of Labor Statistics (www.bls.gov)
released its Consumer Expenditures in 2006 report in October 2008. Among its findings is that average annual household spending on food at home for 2006 was $3,417. Suppose a random sample of 137 households in Detroit was taken to determine whether the average annual expenditure on food at home was less for consumer units in Detroit than in the nation as a whole. The sample results are in the file Detroit Eats. Based on the sample results, can it be concluded at the a 0.02 level of significance that average consumer-unit spending for food at home in Detroit is less than the national average?
Step by Step Answer:
Business Statistics A Decision Making Approach
ISBN: 9780136121015
8th Edition
Authors: David F. Groebner, Patrick W. Shannon, Phillip C. Fry, Kent D. Smith