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Last year the records of dairy and inc. , a convenience store chain, showed the mean amount spent by a customer was $30. A sample
Last year the records of dairy and inc. , a convenience store chain, showed the mean amount spent by a customer was $30. A sample of 49 transactions this month revealed the mean amount spent was $32. Assume that the population standard deviation is known and equal to $11. At the 0.05 significance level, can we conclude that the mean amount spent has increased? Follow the five-step hypothesis testing procedure
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