Question
Heavenly Chocolates manufactures and sells quality chocolate products at its plant and retails store located in Saratoga Springs, New York. Two years ago the company
Heavenly Chocolates manufactures and sells quality chocolate products at its plant and retails store
located in Saratoga Springs, New York. Two years ago the company developed a website and began
selling its products over the Internet. Website sales have exceeded the company's expectations and
management is now considering strategies to increase sales even further. To learn more about the
website customers, a sample of 50 Heavenly Chocolate transactions was selected from previous month's
sales. This part of the question is about the variable 'Amount Spent" which is the total amount of money the customer spent at the end of the website visit. Suppose the purpose of this question only that historically the population mean amount spent in Heavenly Chocolate's retail stores has been $140.54. Us the appropriate hypothesis test to determine if there is evidence in the data to conclude that the mean value spent on the website is less the mean at the retail store at 0.01 level of significance.
X bar is 131 and s=45.3675
I just want to make sure my Ho and Ha are correct. Is Ho Greater or equal to 140.54 and Ha is less than 140.54?
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