Answered: A marketing consultant is hired by a…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Related questions

Question

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 ?=$3.50 . To address the CEO’s conjecture, the marketing manager carried out a hypothesis test of ?0:?=13.50 vs. ??:?>13.50 and obtained a ?‑value = 0.017. At level of significance ?=0.05 , the null hypothesis is rejected. However, the marketing director later finds that, in fact, the average lunch price is not $13.50.

Which of the following is true:

Group of answer choices

a. Type I error was committed

b. Type II error was committed

c. No error was made

d.just bad data.

Expert Solution