It is thought that people paying small purchases (under $25) in a bookstore with cash will spend less than people paying with credit cards. On a Saturday, a random sample of 20 customers who made purchases under $25 and who paid with cash were selected and their purchases averaged. They spent on average $15.45 with a standard deviation of $3.64. The typical credit card purchase (under $25) is $17.30. Do an appropriate hypothesis test to figure out whether people who pay with cash for small purchases spend a different amount than those who pay with credit cards. Use alpha of .05 and a two-tailed test.
It is thought that people paying small purchases (under $25) in a bookstore with cash will spend less than people paying with credit cards. On a Saturday, a random sample of 20 customers who made purchases under $25 and who paid with cash were selected and their purchases averaged. They spent on average $15.45 with a standard deviation of $3.64. The typical credit card purchase (under $25) is $17.30. Do an appropriate hypothesis test to figure out whether people who pay with cash for small purchases spend a different amount than those who pay with credit cards. Use alpha of .05 and a two-tailed test.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section: Chapter Questions
Problem 8SGR
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It is thought that people paying small purchases (under $25) in a bookstore with cash will spend less than people paying with credit cards. On a Saturday, a random sample of 20 customers who made purchases under $25 and who paid with cash were selected and their purchases averaged. They spent on average $15.45 with a standard deviation of $3.64. The typical credit card purchase (under $25) is $17.30. Do an appropriate hypothesis test to figure out whether people who pay with cash for small purchases spend a different amount than those who pay with credit cards. Use alpha of .05 and a two-tailed test.
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