Exercise 5 49 Algo A Survey Found That Massachusetts Residents Spent An Average Of 861 52 On The Lottery More Than Thr 1 (116.06 KiB) Viewed 111 times
Exercise 5-49 Algo A survey found that Massachusetts residents spent an average of $861.52 on the lottery, more than three times the U.S. average. A researcher at a Boston think tank believes that Massachusetts residents spend less than this amount. He surveys 100 Massachusetts residents and asks them about their annual expenditures on the lottery. (You may find it useful to reference the t table.) Click here for the Excel Data File a. Specify the competing hypotheses to test the researcher's claim. HO: u = 861.52; HA: U † 861.52 Ho: u = 861.52; HA: u < 861.52 Ho: u S 861.52; HA: u > 861.52 b-1. Calculate the value of the test statistic. (Negative value should be indicated by a minus sign. Round final answer to 3 decimal places.) Test statistic
b-2. Find the p-value. p-value < 0.01 O 0.01 s p-value < 0.025 0.025 s p-value < 0.05 0.05 s p-value < 0.10 p-value > 0.10 < c. At a = 0.10, what is the conclusion? Reject Ho; there is insufficient evidence to state that the average Massachusetts resident spent less than $861.52 on the lottery. Reject Ho; there is sufficient evidence to state that the average Massachusetts resident spent less than $861.52 on the lottery. O Do not reject Ho; there is sufficient evidence to state that the average Massachusetts resident spent less than $861.52 on the lottery. Do not reject Ho; there is insufficient evidence to state that the average Massachusetts resident spent less than $861.52 on the lottery.