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 area are 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 state and 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 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 29 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 29 hours a week on marketing. The chamber conducts a survey of 98 small businesses within their state and 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 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
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![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 area
are 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 state
and 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 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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb746646f-39dd-4312-845d-6abd1eeee77e%2Ffd6d796e-381d-46e1-80d5-ce2f71e9ad77%2F10lgwh2_processed.png&w=3840&q=75)
Transcribed Image Text: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 area
are 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 state
and 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 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.
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