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:

$427 $274 $370 $238 $222 $215

$360 $434 $387 $395 $323 $63

$415 $429 $377 $279

a. Test the hypothesis that that shoppers spent less than an average of $373 over the Thanksgiving weekend in 2014 using a = 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.

AppendixLO1