Hi, I need help with essay on Multivariate Data Analysis( Short computational exercise). Paper must be at least 1000 words. Please, no plagiarized work!
Test the null hypothesis that the mean willingness-to-pay for membership of the upgraded Gymnasium is at least £75, against the one-sided alternative hypothesis that the mean willingness to pay is less than £75.
From table 4 below, p-value=0.095>.0.05(significance level) we thus fail to reject the null hypothesis and conclude that the mean willingness-to-pay for membership of the upgraded Gymnasium is at least £75
From table 5, we see that female respondents are willing to pay a maximum of $80.85 while the male respondents are willing to pay $68.47. Also if we consider table 6 below, we observe that the p-value=0.000