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 $53. 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 $53? (Use a 0.01 level of significance.) State the null and alternative hypotheses. H0: μ equals= 5353 H1: μ not equals≠ 5353 (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 2.63 comma negative 2.632.63,−2.63. (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 1.321.32. (Type an integer or a decimal. Round to two decimal places as needed.) State the conclusion. Do not reject H0. There is insufficient evidence that the population mean spent by membership member customers is different from $53. b. Determine the p-value and interpret its meaning. The p-value is . 190.190. (Type an integer or a decimal. Round to three decimal places as needed.) Interpret the meaning of the p-value. Select the correct answer below. A. The p-value is the probability of obtaining a sample mean that is equal to or more extreme than $7 above $53 if the null hypothesis is false. B. The p-value is the probability of obtaining a sample mean that is equal to or more extreme than $7 below $53 if the null hypothesis is false. C. The p-value is the probability of obtaining a sample mean that is equal to or more extreme than $7 away from $53 if the null hypothesis is true. D. The p-value is the probability of not rejecting the null hypothesis when it is false.

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 $53. 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 $53? (Use a 0.01 level of significance.) State the null and alternative hypotheses. H0: μ equals= 5353 H1: μ not equals≠ 5353 (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 2.63 comma negative 2.632.63,−2.63. (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 1.321.32. (Type an integer or a decimal. Round to two decimal places as needed.) State the conclusion. Do not reject H0. There is insufficient evidence that the population mean spent by membership member customers is different from $53. b. Determine the p-value and interpret its meaning. The p-value is . 190.190. (Type an integer or a decimal. Round to three decimal places as needed.) Interpret the meaning of the p-value. Select the correct answer below. A. The p-value is the probability of obtaining a sample mean that is equal to or more extreme than $7 above $53 if the null hypothesis is false. B. The p-value is the probability of obtaining a sample mean that is equal to or more extreme than $7 below $53 if the null hypothesis is false. C. The p-value is the probability of obtaining a sample mean that is equal to or more extreme than $7 away from $53 if the null hypothesis is true. D. The p-value is the probability of not rejecting the null hypothesis when it is false.

MATLAB: An Introduction with Applications

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ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

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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

$53.

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

$53?

(Use a

0.01

level of significance.)

State the null and alternative hypotheses.

H0:

equals=

5353

H1:

not equals≠

5353

(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

2.63 comma negative 2.632.63,−2.63.

(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,

1.321.32.

(Type an integer or a decimal. Round to two decimal places as needed.)

State the conclusion.

Do not reject

H0.

There is

insufficient

evidence that the population mean spent by membership member customers is different from

$53.

b. Determine the p-value and interpret its meaning.

The p-value is

. 190.190.

(Type an integer or a decimal. Round to three decimal places as needed.)

Interpret the meaning of the p-value. Select the correct answer below.

The p-value is the probability of obtaining a sample mean that is equal to or more extreme than

above

$53

if the null hypothesis is false.

The p-value is the probability of obtaining a sample mean that is equal to or more extreme than

below

$53

if the null hypothesis is false.

The p-value is the probability of obtaining a sample mean that is equal to or more extreme than

away from

$53

if the null hypothesis is true.

The p-value is the probability of not rejecting the null hypothesis when it is false.

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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