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Suppose that the average student buys 12 books a year. You have a theory that by...

Suppose that the average student buys 12 books a year. You have a theory that by offering a discount you can increase that number. You run a pilot project by offering the discount to a random sample of 25 students and you find that ?̅= 14 and s = 4.32.

11. State the null and alternative hypotheses.

12. How many tails is this test?

13. Specify α.

14. Compute the value of the test statistic.

15. How many degrees of freedom are there?

16. Give a range for the p-value.

17. What is your conclusion in statistical terms?

18. What is your conclusion in business terms?

19. Could you use the confidence interval approach to solve this problem? Why or why not?

Math   Statistics-And-Probability   
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