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A buyer is testing to see if average profits at the franchises of a company are above a certain mark. The buyer will only purchase
A buyer is testing to see if average profits at the franchises of a company are above a certain mark. The buyer will only purchase a franchise if the evidence is very strong and compelling that average profits are above this mark.In this test, does it make more sense to use a relativelylargesignificance level (like 100%) or a relativelysmallsignificance level (like 1%)?
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