An entrepreneur is considering the purchase of a coin-operated laundry. The current owner claims that over the

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An entrepreneur is considering the purchase of a coin-operated laundry. The current owner claims that over the past 5 years, the average daily revenue was $675 with a standard deviation of $75. A sample of 30 days reveals daily average revenue of $625. If you were to test the null hypothesis that the daily average revenue was $675 and decide not to reject the null hypothesis, what can you conclude?
a) There is not enough evidence to conclude that the daily average revenue was $675.
b) There is not enough evidence to conclude that the daily average revenue was not $675.
c) There is enough evidence to conclude that the daily average revenue was $675.
d) There is enough evidence to conclude that the daily average revenue was not $675.
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Operations Management

ISBN: 978-0132687584

1st Canadian Edition

Authors: Jay Heizer, Barry Render, Paul Griffin

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