Conduct the 6-step hypothesis test

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A consumer research company would like to test the hypothesis that the average spending per week is more than $12 at Starbucks for the average college student. A recent report indicates that college students spend an average of $11.36 a week at Starbucks, with a standard deviation of $2.00. Sample size of 15.

Using α = 0.01, what conclusions can consumer research company make?

The critical value of this test from the Table is 2.500.

-Conduct the 6-step hypothesis test. Label each step in your work.

Reference no: EM132906521

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