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Dr. Mack Lemore, an expert in consumer behavior, wants to estimate the average amount of money that people spend in thrift shops. He takes a
Dr. Mack Lemore, an expert in consumer behavior, wants to estimate the average amount of money that people spend in thrift shops. He takes a small sample of 8 individuals and asks them to report how much money they had in their pockets the last time they went shopping at a thrift store. Here is the data: 12.44,10.80,32.03,11.82,12.63,23.09,27.27,28.40 He wishes to test the null hypothesis that the average amount of money people have in their pockets is equal to $20. Calculate the test statistic to two decimal places. Take all calculations toward the answer to three decimal places
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