Suppose we would like to determine if the typical amount spent per customer for dinner at...

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 is known to be $2.50. Using a 0.02 level of significance, would we conclude the typical amount spent per customer is more than $20.00?

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orchestra answered 1 year ago

1. Suppose we would like to determine if the typical amount spent per customer for dinner...

1. 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 is known to be $2.50. •Using a 95% confidence level of significance, would we conclude the typical amount spent per customer is more than $20.00? •Discuss your interpretation of your findings. 2....

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