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ework K Part 5 of 6 A marketing researcher wants to estimate the mean amount spent per year ($) on a web site by
ework K Part 5 of 6 A marketing researcher wants to estimate the mean amount spent per year ($) on a web site by membership member shoppers. Suppose a random sample of 100 membership member shoppers who recently made a purchase on the web site yielded a mean amount spent of $58 and a standard deviation of $56. Complete parts (a) and (b) below. HH 53 (Type integers or decimals. Do not round. Do not include the $ symbol in your answer.) Identify the critical value(s). The critical value(s) is/are - 1.66,1.66. (Type an integer or a decimal. Round to two decimal places as needed. Use a comma to separate answers as needed.) Determine the test statistic. The test statistic, tSTAT, is 0.89 (Type an integer or a decimal. Round to two decimal places as needed.) State the conclusion. Do not reject Ho. There is insufficient evidence that the population mean spent by membership member customers is different from $53. b. Determine the p-value and interpret its meaning. The p-value is (Type an integer or a decimal. Round to three decimal places as needed.) Clear all Check answer
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