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)