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The average age of online consumers ten years ago was 23.3 years. As older individuals gain confidence...

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Question

Statistics

The average age of online consumersten years ago was 23.3 years. As older individuals gain

confidence with the Internet, it isbelieved that the average age has increased. We would like totest

this belief.

(a) Write the appropriate hypothesesto be tested.

(b) The online shoppers in our sampleconsisted of 40 individuals, had an average age of 24.2

years, with a standard deviation of5.3 years. What is the test statistic and p‐value for the

hypotheses being tested in part (a)?(Remark: Report the p‐value using the statisticaltable,

but NOT Excelfunction.)

(c) What is the practicalimplication of the conclusion of the hypothesis test at

  1.         5% level ofsignificance, and
  2.         10% level ofsignificance?

(d) Is our current sample large enoughto estimate the mean age of online consumers to be

correct within ±1.5 years at 95% levelof confidence? If not, how many additional individuals

need to be selected?

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