What is your decision regarding the null hypothesis

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Reference no: EM131253155

The advertising department for a retail store wants to estimate the mean amount spent per visit to the store by customers. Use the data collected below to determine whether we can conclude that the mean amount spent is equal to $60 at the .01 significance level: Customer Amount spent($) 1 48.16 2 42.22 3 46.82 4 51.45 5 23.78 6 41.86 7 54.86 8 37.92 9 52.64 10 48.59 11 50.82 12 46.94 13 61.83 14 61.69 15 49.17 16 61.46 17 51.35 18 52.68 19 58.84 20 43.88 a) State the null and the alternate hypothesis: b) How many degrees of freedom are there? c) Give the decision rule: d) Compute the value of t. e) What is your decision regarding the null hypothesis? Why ? f) Estimate the p-value

Reference no: EM131253155

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