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Hallmark would like to test the hypothesis that those celebrating Valentine's Day will spend more than an average of $125 on gifts. A random sample
Hallmark would like to test the hypothesis that those celebrating Valentine's Day will spend more than an average of $125 on gifts. A random sample of 18 people celebrating Valentine's Day spent an average of $148.50 with a standard deviation of $34.90. Hallmark would like to set = 0.01. Use the critical value approach to test this hypothesis.
What is the t-value?
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