Answered step by step
Verified Expert Solution
Question
1 Approved Answer
In the past, patrons of a cinema complex have spent an average of $5.25 for popcorn and other snacks, with a standard deviation of $1.76.
In the past, patrons of a cinema complex have spent an average of $5.25 for popcorn and other snacks, with a standard deviation of $1.76. The amounts of these expenditures have been normally distributed. Following an intensive publicity campaign by a local medical society, the mean expenditure for a sample of 18 patrons is found to be $4.46. In a one-tail test at the 0.05 level of significance, does this recent experience suggest a decline in spending? Determine and interpret the p-value for the test.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started