He wishes to test the null hypothesis that the average

Reference no: EM13628924

Dr. Mack Lemore, an expert in consumer behavior, wants to estimate the average amount of money that people spend in thrift shops. He takes a small sample of 8 individuals and asks them to report how much money they had in their pockets the last time they went shopping at a thrift store. Here is the data:

25, 13, 16, 13, 17, 26, 29, 20.

He wishes to test the null hypothesis that the average amount of money people have in their pockets is equal to $20. Calculate the test statistic to two decimal places.

Reference no: EM13628924

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