SOLUTION: A grocer wants to test if the mean amount of money spent by all customers at his store is less than $100. Determine the value of the test statistic at the 0.01 significance level i
Algebra ->
Probability-and-statistics
-> SOLUTION: A grocer wants to test if the mean amount of money spent by all customers at his store is less than $100. Determine the value of the test statistic at the 0.01 significance level i
Log On
Question 1162320: A grocer wants to test if the mean amount of money spent by all customers at his store is less than $100. Determine the value of the test statistic at the 0.01 significance level if a sample of 20 people produced a mean of $98 with a standard deviation of $3. Answer by Boreal(15235) (Show Source):
You can put this solution on YOUR website! the test statistic is a t(0.99, df=19)=(x bar-mean)/s/sqrt (n)
this is t=(98-100)/$3/sqrt(20)
=-2*sqrt(20)/3
=-2.98
