a. Compute the p-value for the test (use R). Round to the nearest 3rd decimal place, 0.xxx.b. Make and justify a statistical decision at the α= 0.15 significance level and state your conclu-sions in context of the problem. 3. A small business in Irvine that sells clothing makes roughly $35 per transaction. The CEOsuspects that the business has recently been making less than usual. 40 transactions are randomlysampled from recent transactions and the dollar amount of the transaction recorded. The samplehas a mean of $32.50 and standard deviation of $2.50.

Sample size n =40 Sample mean=32.50 Standard deviation =2.50

Compute the p-value for the test (use R). Round to the nearest 3rd decimal place, 0.xxx. b. Make and justify a statistical decision at the α= 0.15 significance level and state your conclu- sions in context of the problem.

Compute the p-value for the test (use R). Round to the nearest 3rd decimal place, 0.xxx. b. Make and justify a statistical decision at the α= 0.15 significance level and state your conclu- sions in context of the problem.

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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Question

a. Compute the p-value for the test (use R). Round to the nearest 3rd decimal place, 0.xxx.

b. Make and justify a statistical decision at the α= 0.15 significance level and state your conclu-
sions in context of the problem.

3. A small business in Irvine that sells clothing makes roughly $35 per transaction. The CEO
suspects that the business has recently been making less than usual. 40 transactions are randomly
sampled from recent transactions and the dollar amount of the transaction recorded. The sample
has a mean of $32.50 and standard deviation of $2.50.

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