Math Problem Statement
A marketing researcher wants to estimate the mean amount spent per year ($) on a web site by membership member shoppers. Suppose a random sample of 100 membership member shoppers who recently made a purchase on the web site yielded a mean amount spent of $57 and a standard deviation of $52. Is there evidence that the population mean amount spent per year on the web site by membership member shoppers is different from $51? (Use a 0.10 level of significance.) State the null and alternative hypotheses. Upper H 0: mu ▼ less than or equals greater than less than not equals equals greater than or equals enter your response here Upper H 1: mu ▼ less than equals greater than or equals less than or equals not equals greater than enter your response here (Type integers or decimals. Do not round. Do not include the $ symbol in your answer.) Part 2 Identify the critical value(s). The critical value(s) is/are enter your response here. (Type an integer or a decimal. Round to two decimal places as needed. Use a comma to separate answers as needed.) Part 3 Determine the test statistic. The test statistic, t Subscript STAT, is enter your response here. (Type an integer or a decimal. Round to two decimal places as needed.) Part 4 State the conclusion. ▼ Do not reject Reject Upper H 0. There is ▼ sufficient insufficient evidence that the population mean spent by membership member customers is different from $51. Part 5 b. Determine the p-value and interpret its meaning. The p-value is enter your response here. (Type an integer or a decimal. Round to three decimal places as needed.) Part 6 Interpret the meaning of the p-value. Select the correct answer below. A. The p-value is the probability of obtaining a sample mean that is equal to or more extreme than $6 away from $51 if the null hypothesis is true. B. The p-value is the probability of obtaining a sample mean that is equal to or more extreme than $6 above $51 if the null hypothesis is false. C. The p-value is the probability of obtaining a sample mean that is equal to or more extreme than $6 below $51 if the null hypothesis is false. D. The p-value is the probability of not rejecting the null hypothesis when it is false.
Solution
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Math Problem Analysis
Mathematical Concepts
Hypothesis Testing
Two-tailed t-test
Statistical Significance
P-value
Formulas
t_stat = (x̄ - μ₀) / (s / √n)
Critical value for t-distribution
Theorems
Central Limit Theorem
Student's t-distribution
Suitable Grade Level
Undergraduate (Statistics or Business Analytics)
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