Beverage Expenditures. The Bureau of Labor Statistics publishes information on average annual expenditures by consumers in Consumer
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Beverage Expenditures. The Bureau of Labor Statistics publishes information on average annual expenditures by consumers in Consumer Expenditures. In 2012, the mean amount spent per consumer unit on nonalcoholic beverages was $370. A random sample of 12 consumer units yielded the following data, in dollars, on last year’s expenditures on nonalcoholic beverages.
511 326 334 415 409 431 390 423 409 399 344 408 At the 5% significance level, do the data provide sufficient evidence to conclude that last year’s mean amount spent by consumers on nonalcoholic beverages has increased from the 2012 mean of $370?
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