Mathematics, 15.02.2021 19:40 yuser8081
A software company provides specialized resort reservation software that can be tailored to the needs of its customers. The company’s 120 customers pay yearly subscription costs that can vary from customer to customer. The company knows that to be profitable, it needs each customer to be spending at least $23,000 per year, on average. The company selects a random sample of 33 customers and computes a mean of $27,871 and a standard deviation of $309.10. It performs a hypothesis test and computes a very small p-value. The software company concludes that the mean is greater than $23,000. Was it appropriate for the software company to perform the hypothesis test and make the conclusion that was made?
Answers: 3
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