Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A pizza chain is considering opening a new store in an area that currently does not have any such stores. The chain will open if

A pizza chain is considering opening a new store in an area that currently does not have any such stores. The chain will open if there is evidence that more than 5,000 of the 20,000 households in the area have a favorable view of its brain. It conducts a telephone poll of 300 randomly selected households in the area and finds that 96 have a favorable view. The pizza chain's conclusion from the hypothesis test using a 5% level of significance is:

a.

to open a new store

b.

not to open a new store

c.

to delay opening a new store until additional evidence is collected

d.

we cannot tell what the decision should be from the information given

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Energy, Trade And Finance In Asia A Political And Economic Analysis

Authors: Justin Dargin, Tai Wei Lim

1st Edition

1317322711, 9781317322719

More Books

Students also viewed these Economics questions