Question

Dr. Mack Lemore, an expert in consumer behavior, wants to estimate the average amount of money that people spend in thrift shops. He takes a small sample of 8 individuals and asks them to report how much money they had in their pockets the last time they went shopping at a thrift store. Here is the data:

17.24, 20.63, 26.76, 19.85,   18.24,   23.38, 29.55,   28.29.

He wishes to test the null hypothesis that the average amount of money people have in their pockets is equal to $20. Calculate the test statistic to two decimal places. Take all calculations toward the answer to three decimal places.

Answer 1

the required test statistic is, Ts=1.789

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