(Solution Download) The Port Authority sells a wide variety of cables and


The Port Authority sells a wide variety of cables and adapters for electronic equipment online. Last year the mean value of orders placed with the Port Authority was $47.28, and management wants to assess whether the mean value of orders placed to date this year is the same as last year. The values of a sample of 49,896 orders placed this year are collected and recorded in the le Port Authority.
a. Formulate hypotheses that can be used to test whether the mean value of orders placed this year differs from the mean value of orders placed last year.
b. Use the data in the le Port Authority to conduct your hypothesis test. What is the p value for your hypothesis test? At ? = 5 0.01, what is your conclusion?

 







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