Answered: Nancy, an economist, would like to make…

Name: Nancy, an economist, would like to make the claim that the average wee
Uploaded: 2024-03-20T07:07:12.000Z
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Description: Nancy, an economist, would like to make the claim that the average weekly grocery budget for households in a small U.S. city is less than $253. Nancy samples 18 households in the same city and obtains a sample mean of $229.60 spent on groceries per w

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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Nancy, an economist, would like to make the claim that the average weekly grocery budget for households in a small U.S. city is less than $253. Nancy samples 18 households in the same city and obtains a sample mean of $229.60 spent on groceries per week.

At the 2.5% significance level, should Nancy reject or fail to reject the null hypothesis given the sample data below?

H0:μ=$253 per week; Ha:μ<$253 per week
α=0.025 (significance level)
test statistic=−0.75

Then set the α and the test statistic to find the p-value. Use the results to determine whether to reject or fail to reject the null hypothesis.

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