An entrepreneur is considering the purchase of a coin-operated laundry. The current owner claims that over the past five years, the mean daily revenue was $675 with a population standard deviation of $75. A sample of 30 days reveals a daily mean revenue of $625. If you were to test the null hypothesis that the daily mean revenue was $675, at a significance level of 0.05, your hypotheses would be H0: 675 versus H1: < 675. H0: = 675 versus H1: 30. H0: 625 versus H1: > 675 H0: 675 versus H1: < 675. An entrepreneur is considering the purchase of a coin-operated laundry. The current owner claims that over the past five years, the mean daily revenue was $675 with a population standard deviation of $75. A sample of 30 days reveals a daily mean revenue of $625. If you were to test the null hypothesis that the daily mean revenue was $675, at a significance level of 0.05, the p value would be: -3.65 0.0003 -1.96 -1.65 An entrepreneur is considering the purchase of a coin-operated laundry. The current owner claims that over the past five years, the mean daily revenue was $675 with a population standard deviation of $75. A sample of 30 days reveals a daily mean revenue of $625. If you were to test the null hypothesis that the daily mean revenue was $675, at a significance level of 0.05, the conclusion would be. The mean daily revenue from the laundry is different from $675 The mean daily revenue from the laundry is $675 The mean daily revenue from the laundry is $625 The mean daily revenue from the laundry is less than $675 Home Depot 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 own a pickup trick. It conducts a telephone poll of 300 randomly selected households in the area and finds that 96 have a pickup truck. At a significance level of 1%, state the test of hypothesis that is of interest to Home Depot. H0: 5,000 versus H1: > 5,000 H0: 5,000 versus H1: > 5,000 H0: 0.32 versus H1: > 0.32 H0: 0.25 versus H1: > 0.25 Home Depot 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 own a pickup trick. It conducts a telephone poll of 300 randomly selected households in the area and finds that 96 have a pickup truck. At a significance level of 1%, the value of the test statistic in this problem is approximately equal to ________. 2.60 1.30 2.80 1.94 Home Depot 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 own a pickup trick. It conducts a telephone poll of 300 randomly selected households in the area and finds that 96 have a pickup truck. At a significance level of 1%, the p-value associated with the test statistic in this problem is approximately equal to ________. 0.0026 0.0100 0.0051 0.0013 Home Depot 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 own a pickup trick. It conducts a telephone poll of 300 randomly selected households in the area and finds that 96 have a pickup truck. At a significance level of 1%, the decision on the hypothesis test is: We cannot tell what the decision should be from the information given. to reject H0 in favor of H1. to accept H0 in favor of H1. to fail to reject H0 in favor of H1. Home Depot 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 own a pickup trick. It conducts a telephone poll of 300 randomly selected households in the area and finds that 96 have a pickup truck. At a significance level of 1%, Home Depot's conclusion from the hypothesis test is: to open a new store. We cannot tell what the decision should be from the information given. to delay opening a new store until additional evidence is collected. not to open a new store