The CEO of American Apparel believes the clothing industry's retail sales are at least $257.14/square foot. Conduct a hypothesis test to check this claim. Find the test statistic using the Apparel data. Round your answer to two decimals. Use alpha = 0.05. What is the pvalue? SQFTSALES 244.28 248.94 263.36 255.01 250.92 250.05 240.19 275.46 266.95 243.05 232.99 264.61 256.80 254.15 263.36 246.95 237.30 262.82 261.92 264.43 281.34 256.68 265.12 264.30 247.15 254.06 262.01 267.13 267.82 257.91 261.25 246.98 242.69 253.98 242.18 261.36 262.86 263.32 261.35 253.21 256.42
Added by Evan B.
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In this case: - H0: The average retail sales per square foot are equal to or less than $257.14 (µ ≤ 257.14). - H1: The average retail sales per square foot are greater than $257.14 (µ > 257.14). Show more…
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