Compute the p-value for the test (use R). Round to the nearest 3rd decimal place, 0.xxx. b. Make and justify a statistical decision at the α= 0.15 significance level and state your conclu- sions in context of the problem.
Compute the p-value for the test (use R). Round to the nearest 3rd decimal place, 0.xxx. b. Make and justify a statistical decision at the α= 0.15 significance level and state your conclu- sions in context of the problem.
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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a. Compute the p-value for the test (use R). Round to the nearest 3rd decimal place, 0.xxx.
b. Make and justify a statistical decision at the α= 0.15 significance level and state your conclu-
sions in context of the problem.
Transcribed Image Text:3. A small business in Irvine that sells clothing makes roughly $35 per transaction. The CEO
suspects that the business has recently been making less than usual. 40 transactions are randomly
sampled from recent transactions and the dollar amount of the transaction recorded. The sample
has a mean of $32.50 and standard deviation of $2.50.
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