the cashier of a fastfood restaurant claims that the average amount spent by customers for dinner is P120. A sample of 50 customers over a month period was randomly selected and it was found out that the average amount spent for dinner was P122.50. Using a 0.05 level of significance, can it be concluded that the average amount spent by customer was more than P120? Assume that the population standard deviation is P6.50. (Use the low-value method)
Let : It can be concluded that the average amount spent by customer is 120
Using z-distribution statistics-
The tabulated value of z at
Conclusion: The calculated value of z is less than the tabulated value so is accepted, i.e. It can be concluded that the average amount spent by costumer was 120.
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