[Solution] The manager of a golf resort has claimed that, on average, a guest spends at least $2800 at the resort during a weekend stay, including meals
Question: The manager of a golf resort has claimed that, on average, a guest spends at least $2800 at the resort during a weekend stay, including meals and entertainment. A member of the accounting staff does not believe the amount is that high. They authorize you to settle their dispute. You take a SRS (n = 16) of guests that had stayed at the resort over the last several weekends. Tracking the spending of these guests at the resort you determine that the guests spent a mean of $2743 with a standard deviation of $97. Test the accountant's claim that the mean is actually less than $2800 versus the manager's claim that the guests spend a mean of $2800 or more (Show all work as well as appropriate distribution diagrams to receive credit. You may assume = .05 and that he population is symmetric and mounded.)
A H 0 : H 1 :
B What is the critical value of the test statistic? __________
C
State the decision rule,
D Sketch the distribution showing the region(s) of acceptance and rejection in the graph.
E Show computation and then state the statistical decision.
F What would you tell the manager and accountant about their dispute?
Deliverable: Word Document 