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Author Question: A group of young businesswomen wish to open a high fashion boutique in a vacant store but only if ... (Read 23 times)

ninaj

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on: Mar 25, 2023

A group of young businesswomen wish to open a high fashion boutique in a vacant store but only if the average income of households in the area is at least $25,000. A random sample of 9 households showed the following results.

$28,000$24,000$26,000$25,000
$23,000$27,000$26,000$22,000
$24,000   


Assume the population of incomes is normally distributed.

a.Compute the sample mean and the standard deviation.
b.State the hypotheses for this problem.
c.Compute the test statistic.
d.At 95% confidence using the p-value approach, what is your conclusion?

Essentials of Statistics for Business and Economics ¦ Anderson, Sweeney, Williams, Camm, Cochran ¦ 7th Edition
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Marked as best answer by ninaj on Mar 25, 2023

xinyiff

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Reply #1 on: Mar 25, 2023
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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ninaj

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Reply 2 on: Mar 25, 2023
Thanks for the timely response, appreciate it

tkempin

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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