According to research, holiday shoppers spent an average of $365 over a holiday

Question

According to research, holiday shoppers spent an average of $365 over a holiday weekend in 2008. The accompanying data show the amount spent by a random sample of holiday shoppers during the same weekend in 2009. Complete parts a and b below. B Click the icon to view the data table. a. Retailers were concerned that the recent economic downturn was going to affect holiday sales. Does this sample support these concerns using a 0.10 Determine the null and alternative hypotheses. Choose the correct answer below OA. Ho : ?=365 and H 365 ??, ??: ? s 365 and Hy: ?-365 Ac. Ho: #365 and HI: -365 *D Ho : ?2365 and H1 : ?

Explanation / Answer

ho: u = 365

h1: u< 365

mean= 325.6250 AVERAGE
sd= 103.88 STDEV
u= 365.00
n= 16.00 COUNT
alpha= 10%

criticalv value = -t(a,n-1)
-t(0.1,16-1)
-1.341

t = (mean-u)/(sd/sqrt(n))
= (325.625-365)/(103.883829347979/sqrt(16))
-1.5161

p-value
P(T<t)
P(T<-1.5161)
T.DIST(-1.5161,16-1,TRUE)
0.0751

with t=-1.5161, p>5%, i reject Ho and conclude that u < 365

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