The manager of a major retail store has taken a random sample of 25 customers. The average

Question:

The manager of a major retail store has taken a random sample of 25 customers. The average sale was $52.50. The population standard deviation is known to be $6.10. The manager would like to determine whether or not the mean sales by all customers are significantly more than $50. What is the p-value for the test.
a. .05
b. .34
c. 2.50
d. .02
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Understanding Business Statistics

ISBN: 978-1118145258

1st edition

Authors: Stacey Jones, Tim Bergquist, Ned Freed

Question Posted: