A recent survey reported that small businesses spend 24 hours a week marketing their business. A local chamber of commerce claims that small businesses in their area are not growing because these businesses are spending less than 24 hours a week on marketing. The chamber conducts a survey of 93 small businesses within their state and finds that the average amount of time spent on marketing is 23.0 hours a week. Assuming that the population standard deviation is 5.5 hours, is there sufficient evidence to support the chamber of commerce’s claim at the 0.02 level of significance? Step 1 of 3 :
State the null and alternative hypotheses for the test. Fill in the blank below.
H0: μ=24
Ha: μ 24
Step 2 of 3:
What is the test statistic?
Step 3 of 3:
Do we reject the null hypothesis? Is there sufficient or insufficient evidence?