Equation: The random sample population is 500 people who shop for workout programs and equipment. The sample mean of those shopping is that they spend an average of $250.00 per purchase and perchance at least 2 to 3 items for working out and weight lost Assume that the population of consumers is normally distributed with mean M and the standard deviation is 50.
1. Addressed using a single-sample t test
2. Clearly identify the independent and dependent variables you would study.
3. Generate the statistical null and alternative hypotheses.
4. Describe what information the effect size would tell you that the probability value would not.
5. Using realistic numbers for values of degrees of freedom, sample size, and t statistic, report hypothetical results in a few sentences.
This solution contains calculations to conduct a single-sample t-test and also determine the independent and dependent variables. It also provides the null and statistical hypothesis which compares the test statistic to the p-value.