Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

An entrepreneur is considering the purchase of a coin-operated laundry. The current owner claims that over the past five years, the average daily revenue was

An entrepreneur is considering the purchase of a coin-operated laundry. The current owner claims that over the past five years, the average daily revenue was $775 with a standard deviation of $75. A sample of 60 days reveals a daily average revenue of $795. Suppose you wanted to test the hypothesis that the daily average revenue was greater than $775. If the test is conducted at the 10% level of significance, what rejection region should you use?
Select one:
Reject H0 if tcalc >2.327.
Reject H0 if tcalc> 1.645 or tcalc<-1.645.
Reject H0 if zcalc > 1.282.
Reject H0 if zcalc < -1.282.
Reject H0 if zcalc> 1.645 or zcalc<-1.645.
Reject H0 if tcalc < -2.327.

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

MP Auditing And Assurance Services W/ACL Software CD ROM A Systematic Approach

Authors: William Messier Jr, Steven Glover, Douglas Prawitt

9th Edition

1259162346, 978-1259162343

More Books

Students also viewed these Accounting questions

Question

List the performance metrics of a parallel system?

Answered: 1 week ago

Question

State the uses of job description.

Answered: 1 week ago

Question

Explain in detail the different methods of performance appraisal .

Answered: 1 week ago

Question

Describe the seven standard parts of a letter.

Answered: 1 week ago

Question

Explain how to develop effective Internet-based messages.

Answered: 1 week ago

Question

Identify the advantages and disadvantages of written messages.

Answered: 1 week ago