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Statistical T-Tests for Means

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The publisher of Celebrity Living claims that the mean sales for personality magazines that feature people such as Angelina Jolie or Paris Hilton are 1.5 million copies per week. A sample of 10 comparable titles shows a mean weekly sales last week of 1.3 million copies with a standard deviation of 0.9 million million copies. Does this data contradict the publisher's claim? Use a 0.01 significance level. Show all work.

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Solution Summary

Solution conducts the hypothesis test for the given sample results to check the publisher's claim. Solution is provided with suitable formulas and explanation.