Statistical T-Tests for Means

The publisher of Celebrity Living claims that the meansales for personality magazines that feature people such as Angelina Jolie or Paris Hilton are 1.5 million copies per week. A sample of 10 comparable titles shows a mean weekly sales last week of 1.3 million copies with a standard deviationof 0.9 million million copies. Does this datacontradict the publisher’s claim? Use a 0.01 significance level. Show all work.

Solution conducts the hypothesis test for the given sample results to check the publisher’s claim. Solution is provided with suitable formulas and explanation.