A recent survey reported that small businesses spend 29 hours a week marketing their business. A local chamber of commerce claims that small businesses in their areaare not growing because these businesses are spending less than 29 hours a week on marketing. The chamber conducts a survey of 98 small businesses within their stateand finds that the average amount of time spent on marketing is 27.6 hours a week. Assuming that the population standard deviation is 8.1 hours, is there sufficientevidence to support the chamber of commerce's claim at the 0.01 level of significance?Step 2 of 3: Compute the value of the test statistic. Round your answer to two decimal places.

The given values are:Population mean (μ) = 29 hoursSample mean (x̄) = 27.6 hoursPopulation standard…

Answered: A recent survey reported that small…

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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