According to research, holiday shoppers spent an average of $366 over a holiday

Question

According to research, holiday shoppers spent an average of $366 over a holiday weekend in 2008. The accompanying data show the amount spent by a random sample of holiday shoppers during the same weekend in 2009. Complete parts a and b below. | Click the icon to view the data table. a. Retailers were concerned that the recent economic downturn was going to affect holiday sales. Does this sample support these concerns using =0.10? Determine the null and altemative hypotheses. Choose the correct answer below OA. Ho : 366 and H1:>366 OB. H0 : #366 and H1:=366 ° C. Ho : 366 and H1 :

Explanation / Answer

Below are the null and alternate hypothesis
H0: mu = 366
H1: mu < 366

From the given data we have
mean = 327.3125
std. dev. = 102.507703
n = 16

test statistics, t = (327.3125 - 366)/(102.5077/sqrt(16)) = -1.5096

p-value = 0.07595

As p-value is less than the significance level, reject the null hypothesis.

Option B - reject the null hypothesis.

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