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Clayton believes that the individuals in their target group (those with higher incomes) would be willing to spend at least fifteen dollars on a video, and he wants you to test that hypothesis.

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This solution contains step-by-step calculations to hypothesis test their target group on their willingness to purchase a video for less than 15 dollars.

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Clayton believes that the individuals in their target group (those with higher incomes) would be willing to spend at least fifteen dollars on a video, and he wants you to test that hypothesis.

T-test

* Testing if variable V53 is significantly different than $15.
* Only using people with incomes of $70,000 or over.

We will only be looking at people with higher incomes (upper half of the sample; $70,000 or more). We'll do a one-sample, one-sided ...

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