Director of sales at a retailer, Algo, wanted to know whether her team has achieved the target or under-performed the target, or even maybe outperformed the target this year. She has collected the sales from 100 branches and reached CAN$ 5,840,000 in total. To assess the situation she had to calculate the variance which was around 78515151.52. The target she has set before the year started was CAN$ 60,500 per branch.

Based on above information, what is the conclusion at 99% confidence level:

a.

The team has significantly under-performed the target

b.

The team has achieved the target at the higher range

c.

The team has achieved the target but at lower range

d.

The team has significantly outperformed the target