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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Business Statistics

ISBN: 9780136726548

4th Canadian Edition

Authors: Norean Sharpe, Richard De Veaux, Paul Velleman, David Wright

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