7.5 #6 hypotheses

Ralph's Bookstores have indicated that the annual gross revenue for their stores has a standard deviation of =$50,000. You have sampled the annual gross revenue of 64 of Ralph's Bookstores and found that the sample mean annual gross revenue is $270,000, Conduct a hypothesis test to show that the population mean annual gross revenue is greater than $250,000. Test at a level of significance of 0.05.

State the hypotheses for the test by filling in the blanks. Do not give commas or units as part of your answers. Do not use symbols; rather, use the words of "less than," "greater than" or "not equals" as determined is appropriate for the problem.

H₀ : = _____________(blank #1) vs. H_a : ____________(blank #2) 250000

Question 3 options:

Blank # 1
Blank # 2

7.5 #6 checking conditions

To conduct a hypothesis test, you must check conditions. Answer the below questions related to checking conditions:

Blank #1: Was the sample obtained in the right way? (yes or no)

Blank #2: Is the population Normal or if unknown, is the sample size large? (yes or no)

Blank #3: Is the population standard deviation known? (yes or no)

Question 4 options:

Blank # 1
Blank # 2
Blank # 3

Find the TS to two decimal places.

Find the p-value to 4 decimal places.