Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Do not round up please The average Mcdonald's restaurant generates $3.8 million in sales each year with a standard deviation of 0.7. Lindsey wants to

Do not round up please

image text in transcribed
The average Mcdonald's restaurant generates $3.8 million in sales each year with a standard deviation of 0.7. Lindsey wants to know if the average sales generated by Mcdonald's restaurants in lowa is different than the worldwide average. She surveys 21 restaurants in lowa and finds the following data (in millions of dollars): 4.7, 3.7, 4.5, 4.4, 3.9, 3.6, 3.7, 4.1, 4.1, 3.6, 4.4, 4.5, 3.1, 4.7, 4.1, 4.3, 4.1, 3.8, 5, 3.8, 4.4 Perform a hypothesis test using a 4% level of significance. K Step 1: State the null and alternative hypotheses. Ho: ? ?v Ha : 2 v ?v So we will be performing a Select an answer v test.) Step 2: Assuming the null hypothesis is true, determine the features of the distribution of point estimates using the Central Limit Theorem. By the Central Limit Theorem, we know that the point estimates are |Select an answer with distribution mean and distribution standard deviation Step 3: Find the p-value of the point estimate. P(? ?Y = P(? ? P-value = Step 4: Make a Conclusion About the null hypothesis. Since the P-value = ? v - 0, we Select an answer |the null hypothesis. We cannot conclude that the mean sales of Mcdonald's restaurants in lowa differ from average Mcdonald's sales worldwide. We conclude that the mean sales of Mcdonald's restaurants in lowa differ from average Mcdonald's sales worldwide

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_2

Step: 3

blur-text-image_3

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

Abstract Algebra

Authors: John A Beachy, William D Blair

3rd Edition

1478615915, 9781478615910

More Books

Students also viewed these Mathematics questions