A recent survey reported that small businesses spend 26 hours a week marketing their business. A local chamber of commerce claims that small businesses in their area are not growing because these businesses are spending less than 26 hours a week on marketing. The chamber conducts a survey of 89 small businesses within their state and finds that the average amount of time spent on marketing is 24.6 hours a week. Assuming that the population standard deviation is 6.5 hours, is there sufficient evidence to support the chamber of commerce’s claim at the 0.01 level of significance? Step 3 of 3 : Draw a conclusion and interpret the decision.
A recent survey reported that small businesses spend 26 hours a week marketing their business. A local chamber of commerce claims that small businesses in their area are not growing because these businesses are spending less than 26 hours a week on marketing. The chamber conducts a survey of 89 small businesses within their state and finds that the average amount of time spent on marketing is 24.6 hours a week. Assuming that the population standard deviation is 6.5 hours, is there sufficient evidence to support the chamber of commerce’s claim at the 0.01 level of significance? Step 3 of 3 : Draw a conclusion and interpret the decision.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
Related questions
Question
A recent survey reported that small businesses spend 26 hours a week marketing their business. A local chamber of commerce claims that small businesses in their area are not growing because these businesses are spending less than 26 hours a week on marketing. The chamber conducts a survey of 89 small businesses within their state and finds that the average amount of time spent on marketing is 24.6 hours a week. Assuming that the population standard deviation is 6.5 hours, is there sufficient evidence to support the chamber of commerce’s claim at the 0.01 level of significance?
Step 3 of 3 :
Draw a conclusion and interpret the decision.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Algebra
ISBN:
9781680331141
Author:
HOUGHTON MIFFLIN HARCOURT
Publisher:
Houghton Mifflin Harcourt
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Algebra
ISBN:
9781680331141
Author:
HOUGHTON MIFFLIN HARCOURT
Publisher:
Houghton Mifflin Harcourt
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning