Question 324706: An ice cream store estimates that the mean consumption of their waffle cones by their customers is more than 3 per year. In a sample of 80 customers, you find that the mean consumption of waffle cones is 4 per year with a standard deviation of 5.0. Let the level of significance be α = 0.06.
Calculate the P-value.
Possible Answers
A. 0.055
B. 0.026
C. 0.092
D. 0.037
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! An ice cream store estimates that the mean consumption of their waffle cones by their customers is more than 3 per year. In a sample of 80 customers, you find that the mean consumption of waffle cones is 4 per year with a standard deviation of 5.0. Let the level of significance be α = 0.06.
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Calculate the P-value.
t(4) = (4-3)/0.5 = 2
p-value for right-tail t-test with df=79 = tcdf(2,100,79) = 0.026
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Cheers,
Stan H.
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Possible Answers
A. 0.055
B. 0.026
C. 0.092
D. 0.037
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