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Business statistics An entrepreneur is considering the purchase of a coin-operated laundry. The current owner claims that over the past 5 years, the mean daily
Business statistics
An entrepreneur is considering the purchase of a coin-operated laundry. The current owner claims that over the past 5 years, the mean daily revenue was $675 with a sample standard deviation of $75. A sample of 30 days reveals a daily mean revenue of $625. If you want to test whether there is evidence at a 5% level of significance that the daily mean revenue is greater than $675. What can you conclude? * (2 Points) Don't reject Ho. There is enough evidence that the daily mean revenue is greater than $675. Don't reject HO. There is not enough evidence that the daily mean revenue is greater than $675. Reject Ho. There is enough evidence that the daily mean revenue is greater than $675. Reject Ho. There is not enough evidence that the daily mean revenue is greater than $675
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