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Standard Deviation of Breakfast Cost

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A recent survey indicated that the average amount spent for breakfast by business managers was $7.58 with a standard deviation of $0.42. It was felt that breakfasts on the West Coast were higher than $7.58. A sample of 81 business managers on the West Coast had an average breakfast cost of $7.65.

At a= 0.05, what is the test value?

A) -1.5 B) 1.96 C) 1.64 D) 1.5

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Solution Summary

This solution conducts a statistical analysis by stating the decision rule, calculating the test statistic, comparing it to the p-value, and then makes a decision to accept or reject the null hypothesis.

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