A marketing researcher wants to estimate the mean amount spent per year ($) on a web site by membership member shoppers. Suppose a random sample of 130 membership member shoppers who recently made a purchase on the web site yielded a mean amount spent of $56 and a standard deviation of $54. Is there evidence that the population mean amount spent per year on the web site by membership member shoppers is different from $52? (Use a 0.05 level of significance.) a. State the null and alternative hypotheses. b. Determine the test statistic. c. Find the p-value. d.State the conclusion.
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
Is there evidence that the population mean amount spent per year on the web site by membership member shoppers is different from $52? (Use a
a. State the null and alternative hypotheses.
b. Determine the test statistic.
c. Find the p-value.
d.State the conclusion.
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