From 58 randomly selected retail sales, an analyst finds that the mean amount spent is ($26.05) with
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From 58 randomly selected retail sales, an analyst finds that the mean amount spent is \($26.05\) with a standard deviation of \($10.20\) and is approximately Normally distributed. Test the hypothesis that the mean is still \($24.85,\) as it was last year, against the alternative that it has increased.
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Related Book For
Business Statistics
ISBN: 9780136726548
4th Canadian Edition
Authors: Norean Sharpe, Richard De Veaux, Paul Velleman, David Wright
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