Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

no idea with this Question 311 point] A survey conducted for Wal-Mart in January 2019 reported that on average, people spend $?5 on the purchase

no idea with this

image text in transcribedimage text in transcribedimage text in transcribed
Question 311 point] A survey conducted for Wal-Mart in January 2019 reported that on average, people spend $?5 on the purchase of a Valentine's day giftI however the Manager of local Wal-Marl: franchise thinks that people actually spend less than that. The Manager surveys 40 randomly selected Wal-Mart shoppers and finds they plan to spend a sample average of $64 (with a sample standard deviation of $25) on gifts. Does the sample data provide evidence that Wal-Mart shoppers are spend less than $7'5 on Valentine's Day gifts? For the purposes of this question, it is reasonable to believe the assumptions for the inference procedure have been satisfied. To answer this question, determine the following: What is the p-value for the hypothesis test? Enter your response to four decimal places in the space below. Your Answer: Your Answer Question 4 {1 point) A survey conducted for Wal-Mart in January 2019 reported that on average, people spend $?5 on the purchase of a Valentine's day giftI however the Manager of local Wal-Mart franchise thinks that people actually spend less than that. The Manager surveys 40 randomly selected Wal-Mart shoppers and finds they plan to spend a sample average of $64 (with a sample standard deviation of $25) on gifts. Does the sample data provide evidence that Wal-Mart shoppers are spend less than $7'5 on Valentine's Day gifts? For the purposes of this question, it is reasonable to believe the assumptions for the inference procedure have been satisfied. To answer this question, determine the following: What conclusion can you about whether it appears Wal-Mart shoppers are spending less on Valentine's Day gifts? Select the best option from the list below: There is no evidence to suggest the mean amount customers are spending on Valentine's Day gifts IS $75, suggesting customers are in fact spending less than that. There is no evidence to suggest the mean amount customers are spending on Valentine's Day gifts is less than $75, and therefore we can conclude customers are in fact spending $75 on gifts. O There is very strong evidence to suggest the mean amount customers are spending on Valentine's Day gifts is NOT $75, suggesting customers are in fact spending less than that. O There is very strong evidence to suggest the mean amount customers are spending on Valentine's Day gifts IS $75, and therefore no evidence to suggest customers are spending less than that

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Calculus Early Transcendentals

Authors: James Stewart

8th edition

1285741552, 9781305482463 , 978-1285741550

More Books

Students also viewed these Mathematics questions

Question

=+3. Examine alternative strategies that

Answered: 1 week ago