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A researcher estimates that the average revenue of the largest businesses in country x is greater than RM 2 4 billion. A random sample of

A researcher estimates that the average revenue of the largest businesses in country x is
greater than RM24 billion. A random sample of 50 companies is selected, and the mean
revenues is RM28 billion and the population standard deviation is RM15 billion. Test the
researcher's claim using =0.05, that the average revenue of the largest businesses in
country x is greater than RM24 billion. Answer the following questions.
a. Identify the claim and state the H0 and H1.
b. Find the critical value.
c. Calculate the test statistic.
d. Make a decision to reject or fail to reject the H0.
e. Interpret the decision in the context of the original claim.
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