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A random sample of 20 purchases at an internet music site is taken and shows the following amounts (in $): 37.05 2.23 37.92 69.51 35.91
A random sample of 20 purchases at an internet music site is taken and shows the following amounts (in $): 37.05 2.23 37.92 69.51 35.91 33.85 69.48 53.96 54.95 81.08 52.8 10.54 19.57 40.33 43.24 34.98 73.16 87.04 52.54 97.25 The analyst wants to know if the mean amount of all transactions is $40 a) What is the null hypothesis? b) Is the alternative hypothesis one or twosided? c) What is the value of the test statistic? cl) What is the p-value of the test statistic? e) What do you conclude at (x = 0.05
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