3) Visions Today would like to test the hypothesis that those celebrating the Poson Festival will spend more than an average of $125 on gifts. A random sample of eighteen people celebrating the Poson Festival spent an average of $148.50 with a standard deviation of $34.90. Visions Today would like to set an alpha level of 0.01. Test this hypothesis using the critical value approach.

MATLAB: An Introduction with Applications
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Author:Amos Gilat
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3) Visions Today would like to test the hypothesis that those celebrating the Poson Festival will
spend more than an average of $125 on gifts. A random sample of eighteen people celebrating
the Poson Festival spent an average of $148.50 with a standard deviation of $34.90. Visions
Today would like to set an alpha level of 0.01. Test this hypothesis using the critical value
approach.
Transcribed Image Text:3) Visions Today would like to test the hypothesis that those celebrating the Poson Festival will spend more than an average of $125 on gifts. A random sample of eighteen people celebrating the Poson Festival spent an average of $148.50 with a standard deviation of $34.90. Visions Today would like to set an alpha level of 0.01. Test this hypothesis using the critical value approach.
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