What is the p-value, Last year the records of Dairy Land

What is the p-value

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Reference no: EM13111619

Last year the records of Dairy Land Inc., a convenience store chain, showed the mean amount spent by a customer was $30. A sample of 40 transactions this month revealed the mean amount spent was $33 with a standard deviation of $12. At the 0.05 significance level, can we conclude that the mean amount spent has increased? What is the p-value? Follow the five-step hypothesis testing procedure.

Reference no: EM13111619

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