Home / Questions / Customers at Costco spend an average of $130 per trip The Wall Street Journal October 6, 2...
Customers at Costco spend an average of $130 per trip (The Wall Street Journal, October 6, 2010). One of Costco's rivals would like to determine whether Costco's customers spend more per trip. A survey of the receipts of 25 customers found that the sample mean was $135.25. Assume that the population standard deviation of spending is $10.50 and the spending follows a normal distribution (use the significance level 0.07).
Round your solutions for this Exhibit to 4 digits.
Question 26
1 pts
Refer to the Exhibit Costco Customers.
Provide the null and the alternative hypotheses.
Question 27
0.5 pts
Refer to the Exhibit Costco Customers.
Compute the test statistic.
Question 28
1 pts
Refer to the Exhibit Costco Customers.
Calculate the p-value for the test.
Question 29
1 pts
Refer to the Exhibit Costco Customers.
State your conclusion for the test using the p-value.
A. p-value < 0.07,="" so="" we="" cannot="" reject="" ho.="" therefore,="" there="" is="" not="" enough="" evidence="" to="" conclude="" that="" costco's="" customers="" spend="" more="" than="" $130="" per="">
B. p-value < 0.07,="" so="" we="" reject="" ho.="" therefore,="" there="" is="" not="" enough="" evidence="" to="" conclude="" that="" costco's="" customers="" spend="" more="" than="" $130="" per="">
C. p-value < 0.07,="" so="" we="" cannot="" reject="" ho.="" therefore,="" there="" is="" enough="" evidence="" to="" conclude="" that="" costco's="" customers="" spend="" more="" than="" $130="" per="">
D. p-value < 0.07,="" so="" we="" reject="" ho.="" therefore,="" there="" is="" enough="" evidence="" to="" conclude="" that="" costco's="" customers="" spend="" more="" than="" $130="" per="">
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