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 100 membership member shoppers who recently made a purchase on the web site yielded a mean amount spent of $60 and a standard deviation of $55. Complete parts (a) and (b) below. a. Is there evidence that the population mean amount spent per year on the web site by membership member shoppers is different from $50? (Use a 0.01 level of significance.) State the null and alternative hypotheses. H (Type integers or decimals. Do not round. Do not include the $ symbol in your answer.) Identify the critical value(s). The critical value(s) is/are (Type an integer or a decimal. Round to two decimal places as needed. Use a comma to separate answers as needed.) Determine the test statistic. The test statistic, tSTAT, is (Type an integer or a decimal. Round to two decimal places as needed.) State the conclusion. V Ha. There is V evidence that the population mean spent by membership member customers is different from $50 b. Determine the p-value and interpret its meaning. The p-value isO. (Type an integer or a decimal. Round to three decimal places as needed.)

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 100 membership member shoppers who recently made a purchase on the web site yielded a mean amount spent of $60 and a standard deviation of $55. Complete parts (a) and (b) below. a. Is there evidence that the population mean amount spent per year on the web site by membership member shoppers is different from $50? (Use a 0.01 level of significance.) State the null and alternative hypotheses. H (Type integers or decimals. Do not round. Do not include the $ symbol in your answer.) Identify the critical value(s). The critical value(s) is/are (Type an integer or a decimal. Round to two decimal places as needed. Use a comma to separate answers as needed.) Determine the test statistic. The test statistic, tSTAT, is (Type an integer or a decimal. Round to two decimal places as needed.) State the conclusion. V Ha. There is V evidence that the population mean spent by membership member customers is different from $50 b. Determine the p-value and interpret its meaning. The p-value isO. (Type an integer or a decimal. Round to three decimal places as needed.)

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Description: 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 100 membership member shoppers who recently made a purchase on the web site yielded a mean amount spe

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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Concept explainers

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.

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Question

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 100 membership member shoppers who recently made a purchase on the web site yielded a mean amount spent of $60 and a
standard deviation of $55. Complete parts (a) and (b) below.
a. Is there evidence that the population mean amount spent per year on the web site by membership member shoppers is different from $50? (Use a 0.01 level of significance.)
State the null and alternative hypotheses.
Ho: H
(Type integers or decimals. Do not round. Do not include the $ symbol in your answer.)
Identify the critical value(s).
The critical value(s) is/are
(Type an integer or a decimal. Round to two decimal places as needed. Use a comma to separate answers as needed.)
Determine the test statistic.
The test statistic, 1STAT, is
(Type an integer or a decimal. Round to two decimal places as needed.)
State the conclusion.
Ho. There is
v evidence that the population mean spent by membership member customers is different from $50.
b. Determine the p-value and interpret its meaning.
The p-value is
(Type an integer or a decimal. Round to three decimal places as needed.)

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