In behavioral biases meet the market the case of magazine


In "Behavioral Biases Meet the Market: The Case of Magazine Subscription Prices," published in Advances in Economic Analysis & Policy in 2005, the authors looked at the ratio of subscription price to newsstand price for all the major magazines in the United States. Values ranged from 0.163 to 1.24, indicating that the best subscription price was just about one-sixth of the newsstand price, whereas the worst was 24% higher than the newsstand price. The mean was found to be 0.553 and the standard deviation 0.200.6 If we wanted to verify that, on average, subscription prices are lower than newsstand prices, how should the alternative hypothesis about population mean ratio m be written (mathematically)?

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Basic Statistics: In behavioral biases meet the market the case of magazine
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