A recent survey reported that small businesses spend 29 hours a week marketing their business. A local chamber of commerce claims that small businesses in their area are not growing because these businesses are spending less than 29 hours a week on marketing. The chamber conducts a survey of 98 small businesses within their state and finds that the average amount of time spent on marketing is 27.6 hours a week. Assuming that the population standard deviation is 8.1 hours, is there sufficient evidence to support the chamber of commerce's claim at the 0.01 level of significance? Step 3 of 3: Draw a conclusion and interpret the decision.
A recent survey reported that small businesses spend 29 hours a week marketing their business. A local chamber of commerce claims that small businesses in their area are not growing because these businesses are spending less than 29 hours a week on marketing. The chamber conducts a survey of 98 small businesses within their state and finds that the average amount of time spent on marketing is 27.6 hours a week. Assuming that the population standard deviation is 8.1 hours, is there sufficient evidence to support the chamber of commerce's claim at the 0.01 level of significance? Step 3 of 3: Draw a conclusion and interpret the decision.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
Related questions
Question
AI-Generated Solution
AI-generated content may present inaccurate or offensive content that does not represent bartleby’s views.
Unlock instant AI solutions
Tap the button
to generate a solution
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill