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Critical value approach to test hypothesis

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Sweet cookie sally would like to test the hypothesis that those celebrating Valentine's Day will spend more than an average of $125 on gifts. A random sample of 18 people celebrating Valentine's Day spent an average of $148.50 with a standard deviation of $34.90. Sweet cookie sally would like to set α = 0.01. Use the critical value approach to test this hypothesis.

Reference no: EM131099555

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