A business has a goal of selling 500 bags of chips with 3 days left they have 332 to go .at least how many do they need to avera
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Answer:
We see that the p value i higher than the significance level so then we FAIL to reject the null hypothesis and we can conclude that the true mean is not significantly higher than 13.2 *the value of 2008 ).
Step-by-step explanation:
Information given
represent the sample mean
represent the sample standard deviation
sample size
represent the value that we want to test
represent the significance level
t would represent the statistic (variable of interest)
represent the p value for the test
Hypothesis to test
We want to conduct a hypothesis in order to check if the true mean has increased from 2008 , and the system of hypothesi are:
Null hypothesis:
Alternative hypothesis:
The statistic for this case is:
(1)
Calculating the statistic
Replacing the info given we got:
P-value
The degrees of freedom are:
Since is a right tailed test the p value is:
Decision
We see that the p value i higher than the significance level so then we FAIL to reject the null hypothesis and we can conclude that the true mean is not significantly higher than 13.2 *the value of 2008 ).