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In 2022 , customers at Costco spent an average of $130 per trip. A recent...

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Finance

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In 2022 , customers at Costco spent an average of $130 per trip. A recent survey of the receipts of 55 customers found that the sample mean was $135.25 with a sample standard deviation of $15.50. Test whether average spending has increased from the average spending of $130 at the 1% significance level. - Answer the following Hypothesis Test questions with the following; - State the null (H0) and the alternative (H1) hypotheses for the test. - Show the test output if you use the Excel program. - Show every step, Z or t-test, Two-tail or One-tail (Right or Left) test, Test Statistic, Critical Value, and Statistical Decision if you do not use the Excel program. - State the Hypothesis Test Conclusion

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