A marketing consultant is hired by a major restaurant chain wishing to investigate the preferences and spending patterns of lunch customers. The CEO of the chain hypothesized that the average customer spends at least $13.50 on lunch. A survey of 25 customers sampled at one of the restaurants found the average lunch bill per customer to be $15.50. Based on previous surveys, the restaurant informs the marketing manager that the standard deviation is o = $3.50. To address the CEO's conjecture, the marketing manager carried out a hypothesis test of : u = 13.50 vs. : u > 13.50 and obtained a P-value = 0.002. At a significance level of a = 0.05, this %3D %3! %3D %3D result:

A marketing consultant is hired by a major restaurant chain wishing to investigate the preferences and spending patterns of lunch customers. The CEO of the chain hypothesized that the average customer spends at least $13.50 on lunch. A survey of 25 customers sampled at one of the restaurants found the average lunch bill per customer to be $15.50. Based on previous surveys, the restaurant informs the marketing manager that the standard deviation is o = $3.50. To address the CEO's conjecture, the marketing manager carried out a hypothesis test of : u = 13.50 vs. : u > 13.50 and obtained a P-value = 0.002. At a significance level of a = 0.05, this %3D %3! %3D %3D result:

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Description: A marketing consultant is hired by a major restaurant chain wishing to investigate thepreferences and spending patterns of lunch customers. The CEO of the chainhypothesized that the average customer spends at least $13.50 on lunch. A survey of25 cus

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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A marketing consultant is hired by a major restaurant chain wishing to investigate the preferences and spending patterns of lunch customers. The CEO of the chain hypothesized that the average customer spends at least $13.50 on lunch. A survey of 25 customers sampled at one of the restaurants found the average lunch bill per customer to be = $14.50. Based on previous surveys, the restaurant informs the marketing manager that the standard deviation is o = $3.50. To address the CEO's conjecture, the marketing manager decides to carry out a test of hypothesis. The null hypothesis should be: O a. Ho: µ = 13.50. %3D O b. Ho: µ = 14.50. O c. Ho: µ < 13.50. O d. Ho: µ s 14.50.
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