A marketing researcher wants to estimate the mean savings ($) realized by shoppers who showroom. Showrooming is the practice of inspecting products in retail stores and then purchasing the products online at a lower price. A random sample of 100 shoppers who recently purchased a consumer electronics Item online after making a visit to a retail store yielded a mean savings of $58 and a standard devlation of $55. Is there evidence that the population mean savings for all showroomers who purchased a consumer electronics item is different from $50 at a 5% level of significance?

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A marketing researcher wants to estimate the mean savings ($) reallzed by shoppers who showroom. Showrooming is the practice of inspecting products in retail stores and then purchasing the products online at a
lower price. A random sample of 100 shoppers who recently purchased a consumer electronics Item online after making a visit to a retail store ylelded a mean savings of $58 and a standard devlation of $55. Is there
evidence that the population mean savings for all showroomers who purchased a consumer electronics item is different from $50 at a 5% level of significance?
Step 1: The null hypothesis is Ho:
1. H-$50
v Step 1: The alternative hypothesis Is H:
2. 2 $50
Step 2: The value of the test statistics is
3. ps $50
Step 3: The lower critical value is
Note: If thero is one critical value, one of the "lower critlcal value" or "upper .critical value" should be
none".
4. H# $50
Step 3: The upper critical value is
Note: If there is one critical value, one of the "lower critical value" or "upper critical value" should be 6. > $50
none".
OS$ >f s
7.-1.9842
N Step 3. The p-value is
8. 0.1490
9. 0.1965
NStep 4: You should
10.1.4545
VStep 5: Your should conclude that
11.1.9842
12.5.5000
13.reject Ho
14.not reject Ho
15. there is enough evidence to conclude that the population mean savings for all showroomers who
purchased a consumer electronies item is different from $50.
16. there is not enough evidence to conclude that the population mean savings for all showroomers who
purchased a consumer electronics item is different from S50.
17. there is enough evidence to conclude that the population mean savings for all showroomers who
purchased a consumer electronics item is not different from $50.
18. there is not enough evidence to conclude that the population mean savings for all showroomers who
purchased a consumer electronies item is not different from S50.
Transcribed Image Text:A marketing researcher wants to estimate the mean savings ($) reallzed by shoppers who showroom. Showrooming is the practice of inspecting products in retail stores and then purchasing the products online at a lower price. A random sample of 100 shoppers who recently purchased a consumer electronics Item online after making a visit to a retail store ylelded a mean savings of $58 and a standard devlation of $55. Is there evidence that the population mean savings for all showroomers who purchased a consumer electronics item is different from $50 at a 5% level of significance? Step 1: The null hypothesis is Ho: 1. H-$50 v Step 1: The alternative hypothesis Is H: 2. 2 $50 Step 2: The value of the test statistics is 3. ps $50 Step 3: The lower critical value is Note: If thero is one critical value, one of the "lower critlcal value" or "upper .critical value" should be none". 4. H# $50 Step 3: The upper critical value is Note: If there is one critical value, one of the "lower critical value" or "upper critical value" should be 6. > $50 none". OS$ >f s 7.-1.9842 N Step 3. The p-value is 8. 0.1490 9. 0.1965 NStep 4: You should 10.1.4545 VStep 5: Your should conclude that 11.1.9842 12.5.5000 13.reject Ho 14.not reject Ho 15. there is enough evidence to conclude that the population mean savings for all showroomers who purchased a consumer electronies item is different from $50. 16. there is not enough evidence to conclude that the population mean savings for all showroomers who purchased a consumer electronics item is different from S50. 17. there is enough evidence to conclude that the population mean savings for all showroomers who purchased a consumer electronics item is not different from $50. 18. there is not enough evidence to conclude that the population mean savings for all showroomers who purchased a consumer electronies item is not different from S50.
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