Select Page

# Exhibit: Costco Customers

by | Sep 15, 2021 | Homework Help

Exhibit: Costco Customers.Customers at Costco spend an average of \$130 per trip (The Wall Street Journal, October 6, 2010). One of Costco’s rivals would like to determine whether Costco’s customers spend more per trip. A survey of the receipts of 25 customers found that the sample mean was \$135.25. Assume that the population standard deviation of spending is \$10.50 and the spending follows a normal distribution (use the significance level 0.07).Round your solutions for this Exhibit to 4 digits.Question 261 ptsRefer to the Exhibit Costco Customers.Provide the null and the alternative hypotheses.Question 270.5 ptsRefer to the Exhibit Costco Customers.Compute the test statistic.Question 281 ptsRefer to the Exhibit Costco Customers.Calculate the p-value for the test.Question 291 ptsRefer to the Exhibit Costco Customers.State your conclusion for the test using the p-value.A. p-value < 0.07, so we cannot reject Ho. Therefore, there is not enough evidence to conclude that Costco's customers spend more than \$130 per trip.B. p-value < 0.07, so we reject Ho. Therefore, there is not enough evidence to conclude that Costco's customers spend more than \$130 per trip.C. p-value < 0.07, so we cannot reject Ho. Therefore, there is enough evidence to conclude that Costco's customers spend more than \$130 per trip.D. p-value < 0.07, so we reject Ho. Therefore, there is enough evidence to conclude that Costco's customers spend more than \$130 per trip.

# Plagiarism-free and delivered on time!

We are passionate about delivering quality essays.

Our writers know how to write on any topic and subject area while meeting all of your specific requirements.

Unlike most other services, we will do a free revision if you need us to make corrections even after delivery.