1. Suppose the amount of money UCLA students spend on movies during a one month period observes normal distribution. A sample is taken containing monthly movie spending in dollars for several UCLA students as 66.72, 50.23, 40.57, 45.53, 60.45, 70.85, 57.49, and 53.46. Round your numbers to two decimal places. All the calculation should be preceded with the formula used.
c. From this sample, can we conclude that the average monthly movie spending by UCLA students is lower than 63.45 dollars at the 0.01 level of significance? (Show 7 steps)
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