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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 critical value in absolute terms is 1.645, the test is conducted at the Answer% level of significance. (Use Excel and enter your answer as a round value)
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 critical value in absolute terms is 1.645, the test is conducted at the Answer% level of significance. (Use Excel and enter your answer as a round value)
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