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Typical amount spent per customer

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Suppose we would like to determine if the typical amount spent per customer for dinner at a new restaurant in town is more than $20.00. A sample of 49 customers over a three-week period was randomly selected and the average amount spent was $22.60. Assume that the standard deviation s is known to be $5.50. Using a 0.05 level of significance, would we conclude the typical amount spent per customer is more than $20.00?

Reference no: EM131319038

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