Answered: Sandra's marketing firm is advertising…

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

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.

Expert Solution

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,

$d f = n - 1 = 40 - 1 = 39$

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