Question:Danvers-Hilton Resort Hotel states that its weekend guest bill
has been on average $1,200 for the...
Question
Danvers-Hilton Resort Hotel states that its weekend guest bill
has been on average $1,200 for the...
Danvers-Hilton Resort Hotel states that its weekend guest bill
has been on average $1,200 for the last 5 years with a standard
deviation of $200. The CEO believes that this year the value of
weekend bills has changed and he hires you to statistically test
whether this is true. You collect a sample of 100 weekend bills
finding an average amount of $1,230. You state the following
hypothesis:
H0 : µ = 1200
Ha : µ ≠ 1200
Conduct a hypothesis test using a critical-value approach
allowing for 5% error.
Conduct a hypothesis test using a p-value approach allowing 5%
error.
According to the statistical analysis you have performed above,
what is your answer to the CEO?