I had to make this problem up myself and then solve it using the Ztest, I need to know where I got lost
The pro shop holds monthly charge invoices of all the club members at the golf club. The GM has to determine if the mean of monthly charges are $500 dollars this month, in order to determine if the club is on budget. The significance level is set at .05. A random check of 150 member accounts revealed the sample mean is $489 and a standard deviation of 25
Ho: u=$500
H1: u<$500
so my equation read
489-500= -11
-----------
25/SQRT 150= 2.04
-11/2.04= -5.39
Am I close at all?
The pro shop holds monthly charge invoices of all the club members at the golf club. The GM has to determine if the mean of monthly charges are $500 dollars this month, in order to determine if the club is on budget. The significance level is set at .05. A random check of 150 member accounts revealed the sample mean is $489 and a standard deviation of 25
Ho: u=$500
H1: u<$500
so my equation read
489-500= -11
-----------
25/SQRT 150= 2.04
-11/2.04= -5.39
Am I close at all?