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Celebrating valentine day spent an average

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Hallmark would like to test the hypothesis that those celebrating Valentine's Day will spend more than an average of $125 on gifts. A random sample of 18 people celebrating Valentine's Day spent an average of $148.50 with a standard deviation of $34.90

Reference no: EM131099554

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Critical value approach to test hypothesis : A random sample of 18 people celebrating Valentine's Day spent an average of $148.50 with a standard deviation of $34.90. Sweet cookie sally would like to set α = 0.01. Use the critical value approach to test this hypothesis.
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