An analyst collected data from 25 randomly selected transactions and found the p

Question

An analyst collected data from 25 randomly selected transactions and found the purchase amounts (in $). The mean is $25.94 and the standard deviation is $14.73. The analyst wants to know if the mean purchase amount of all transactions is at least $19. Use the given information to complete parts a through e. 22.46 39.99 48.12 40.78 23.84 7.65 12.76 17.32 4.15 14.53 47.66 9.89 37.11 47.12 16.85 45.84 24.44 44.25 24.32 5.19 7.74 29.75 22.34 17.73 36.76 The alternative hypothesis is one-sided. c) What is the value of the test statistic? The test statistic is 2.36 (Round to two decimal places as needed.) d) What is the P-value of the test statistic? P-value(Round to four decimal places as needed.)

Explanation / Answer

Solution :

d) The test statistic is 2.36

Using standard normal table,

P(Z > 2.36) = 1 - P(Z < 2.36)

See z value 2.3 in the column and 0.06 in the row of the standard normal table

the corresponding probabiliy is 0.9909 .

P(Z > 2.36) = 1 - P(Z < 2.36) = 1 - 0.9909 = 0.0091

The alternative hypothesis is one-sided .

P-value = P(Z > 2.36) = 0.0091

P-value = 0.0091

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.