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(Solved) Astationery store wants to estimate the mean retail value of greeting cards that it has in its inventory. A random sample of 100 greeting cards


A stationary store wants to estimate..


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Astationery store wants to estimate the mean retail value of greeting cards that it has in its inventory. A random sample of 100 greeting cards indicates a mean value of $2.55 and a standard deviation of $0.47. Complete
parts (a) and (b). Click here to view page 1 of the table of critical values of t.
Click here to view page 2 of the table of critical values of t. a. Is there evidence that the population mean retail value of the greeting cards is different from $2.50? (Use a 0.01 level of significance.) State the null and alternative hypotheses. HOW-IE3
H1:pE:| (Type integers or decimals. Do not include the S symbol in your answer.)

 


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