American Greetings would like to test the hypothesis that the average amount of money spent per person on Mother's Day increased by more than $10 this year when compared to last year. The following data represents the amount of money that the same eight individuals spent on Mother's Day during the past two holidays.
|
Person
|
1
|
2
|
3
|
4
|
5
|
6
|
7
|
8
|
|
Last Year
|
$140
|
$113
|
$86
|
$147
|
$140
|
$162
|
$150
|
$142
|
|
This Year
|
$133
|
$110
|
$156
|
$170
|
$160
|
$166
|
$183
|
$154
|
Define Population 1 as this year and Population 2 as last year and use the p-value approach to test this hypothesis with α = 0.05.