Sandra's marketing firm is advertising a new type of coffee for their client. As part of their market research, the firm randomly selects 40 adults from the tri-state area and ask them how much they spend annually on coffee. The sample mean is $178 and the sample standard deviation is $14. Based on this data, the manager of the firm claims that he believes the average annual amount spent on coffee by all adults in the tri-state area is less than $185. Is the manager correct? Test his claim at the 0.01 significance level.
Sandra's marketing firm is advertising a new type of coffee for their client. As part of their market research, the firm randomly selects 40 adults from the tri-state area and ask them how much they spend annually on coffee. The sample mean is $178 and the sample standard deviation is $14. Based on this data, the manager of the firm claims that he believes the average annual amount spent on coffee by all adults in the tri-state area is less than $185. Is the manager correct? Test his claim at the 0.01 significance level.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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Problem 1P
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Sandra's marketing firm is advertising a new type of coffee for their client. As part of their market research, the firm randomly selects 40 adults from the tri-state area and ask them how much they spend annually on coffee. The sample mean is $178 and the sample standard deviation is $14. Based on this data, the manager of the firm claims that he believes the average annual amount spent on coffee by all adults in the tri-state area is less than $185. Is the manager correct? Test his claim at the 0.01 significance level.
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Step 1
The summary of the statistics is,
The type of test is left tailed test
Step 2
The value of test statistic is,
The degree of freedom is,
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