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Last year the records of Dairy Land Inc., a convenience store chain, showed the mean amount...

Last year the records of Dairy Land Inc., a convenience store chain, showed the mean amount spent by a customer was $30. A sample of 40 transactions this month revealed the mean amount spent was $33. Assume that the population standard deviation, σ, is known and equal to $12. At the 0.05 significance level, can we conclude that the mean amount spent is not equal to $30?

Follow the five step hypothesis testing procedure.

Math   Statistics-And-Probability   
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