Question

From candy to jewelry to flowers, the average consumer was expected to spend $104.91 for Mother's Day in 2005, according to the Democrat & Chronicle article 'Mom's getting more this year' (May 7, 2005). Local merchants thought this average was too high for their area. They contracted an agency to conduct a study. A random sample of 58 consumers was taken at a local shopping mall the Saturday before Mother's Day and produced a sample mean amount of $94.83. If o = $29.5, does the sample provide sufficient evidence to support the merchants' claim at the .05 significance level? (a) Find z. (Give your answer correct to two decimal places.) (ii) Find the p-value. (Give your answer correct to four decimal places.) (b) State the appropriate conclusion. Reject the null hypothesis, there is not significant evidence to support the merchants' claim. Reject the null hypothesis, there is significant evidence to support the merchants' claim. Fail to reject the null hypothesis, there is significant evidence to support the merchants' claim. o Fail to reject the null hypothesis, there is not significant evidence to support the merchants' claim. You may need to use the appropriate table in Appendix B to answer this question.