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According to a recent report, customers who shop at a certain online store spend, on average, $1,500 a year at th store. To investigate whether the mean amount spent was greater than the reported average, an economist obtained the mean and standard deviation of the amount spent in the past year by a random sample of 120 customers who shop at the store. With all conditions for inference met, the economist conducted the appropriate hypothesis test and obtained a p-value of 0.25. Which of the following statements is the most appropriate conclusion for the investigation?

According to a recent report, customers who shop at a certain online store spend, on average, $1,500 a year at th store. To investigate whether the mean amount spent was greater than the reported average, an economist obtained the mean and standard deviation of the amount spent in the past year by a random sample of 120 customers who shop at the store. With all conditions for inference met, the economist conducted the appropriate hypothesis test and obtained a p-value of 0.25. Which of the following statements is the most appropriate conclusion for the investigation?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
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
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34. According to a recent report, customers who shop at a certain online store spend, on average, $1,500 a year at the store. To investigate whether the mean amount spent was greater than the reported average, an economist obtained the mean and standard deviation of the amount spent in the past year by a random sample of 120 customers who shop at the store. With all conditions for inference met, the economist conducted the appropriate hypothesis test and obtained a p-value of 0.25. Which of the following statements is the most appropriate conclusion for the investigation? (A) There is convincing statistical evidence that the mean amount of money spent each year by all customers who shop at the store is $1,500. (B) There is convincing statistical evidence that the mean amount of money spent each year by all customers who shop at the store is greater than $1,500. (C) There is convincing statistical evidence that the mean amount of money spent each year by all customers who shop at the store is less than $1,500. (D) There is not convincing statistical evidence that the mean amount of money spent each year by all customers who shop at the store is greater than $1,500. (E) There is not convincing statistical evidence that the mean amount of money spent each year by any sample of 120 customers who shop at the store is greater than $1,500.
Transcribed Image Text:34. According to a recent report, customers who shop at a certain online store spend, on average, $1,500 a year at the store. To investigate whether the mean amount spent was greater than the reported average, an economist obtained the mean and standard deviation of the amount spent in the past year by a random sample of 120 customers who shop at the store. With all conditions for inference met, the economist conducted the appropriate hypothesis test and obtained a p-value of 0.25. Which of the following statements is the most appropriate conclusion for the investigation? (A) There is convincing statistical evidence that the mean amount of money spent each year by all customers who shop at the store is $1,500. (B) There is convincing statistical evidence that the mean amount of money spent each year by all customers who shop at the store is greater than $1,500. (C) There is convincing statistical evidence that the mean amount of money spent each year by all customers who shop at the store is less than $1,500. (D) There is not convincing statistical evidence that the mean amount of money spent each year by all customers who shop at the store is greater than $1,500. (E) There is not convincing statistical evidence that the mean amount of money spent each year by any sample of 120 customers who shop at the store is greater than $1,500.
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