Suppose according to a 1990 demographic report the average

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Reference no: EM13622325

Suppose according to a 1990 demographic report the average U.S. household spends $90 per day. Suppose you recently took a sample of 30 households in Huntsille and the results revealed a mean of $84.50. Suppose the standard deviation is known to be $14.50. Usig a 0.05 level of significance, can it be concluded that the average amount spent per day by U.S. household has decreased? (Use p-value approach)

1. The parameter of interest:

2. The null hypothesis Ho:

3. The alternative hypothese H1:

4. Test statistic:

5. Reject Ho if:

6. Computations:

7. Conclusions:

Reference no: EM13622325

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