We want to guess the average one-day travel expense in Paris. To do this, we too

Question

We want to guess the average one-day travel expense in Paris. To do this, we took a sample one-day travelers in paris and found that this sample's average expense. The population standard deviation is NOT known. Is there statistically significant evidence (Does the sample data support) that the mean one-day expense of all one-day travelers (population) in Paris is greater than $500 at.05 level of significance? We do a hypothesis testing to answer this question. If the t statistic is 2.1 and the critical value is 2.4 (These values are NOT the answers to other questions.), do we reject the H_0? Do not relate this question to any other question. a) No b) Yes

Explanation / Answer

We know that it is a one tailed test

Lets compare t statistic and critical value t to conclude if we want to reject Ho.

The t statistic is 2.1

The critical value is 2.4

Since t statistic < t critical value (2.1<2.4) we conclude that we don't reject Ho.

Answer is a.) No

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