Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2 (10) An analyst collected data from 25 randomly selected transactions and found the purchase amounts (in 16.49 25.58 32.58 20.21 19.25 $). The mean

2 (10)

image text in transcribed
An analyst collected data from 25 randomly selected transactions and found the purchase amounts (in 16.49 25.58 32.58 20.21 19.25 $). The mean is $24.81 and the standard deviation is $13.97. The analyst wants to know if the mean 37.79 33.36 4.48 42.83 39.59 purchase amount of all transactions is at least $19. Use the given information to complete parts a through e. 32.27 13.21 11.79 46.89 4.83 25.42 45.93 14.04 3.77 35.12 37.24 5.24 15.59 16.28 40.57 a) What is the null hypothesis? Ho: H = $ 19 (Type an integer or a decimal.) b) Is the alternative one- or two-sided? The alternative hypothesis is one-sided. c) What is the value of the test statistic? The test statistic is 2.08 (Round to two decimal places as needed.) d) What is the P-value of the test statistic? P-value = (Round to four decimal places as needed.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals Of Calculus

Authors: Carla C Morris, Robert M Stark

1st Edition

1119015367, 9781119015369

More Books

Students also viewed these Mathematics questions

Question

What are the trends regarding married status in the United States?

Answered: 1 week ago

Question

Why should an individual manager be interested in supporting HR?

Answered: 1 week ago