Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

' ___ .,,,,r.,,,, ...7...... V n-.. .-_ I , ____._ -_._..__. v v '-v.'-vu.' .a, v 6......- The average McDonald's restaurant generates $3 million in

image text in transcribed
' ___ .,,,,r.,,,, ...7...... V n-.. .-_ I , ____._ -_._..__. \"v v '-v.'-vu.' .a, v\" 6......- The average McDonald's restaurant generates $3 million in sales each year with a standard deviation of 0.3. Leo wants to know if the average sales generated by McDonaid's restaurants in Kansas is different than the worldwide average. He surveys 22 restaurants in Kansas and finds the following data (in millions of dollars): 3.5, 2.8, 3, 3, 2.4, 2.7, 3.2, 2.5, 3, 2.9, 2.5, 3.2, 2.9, 2.6, 3, 2.6, 2.5, 2.5, 3.3, 2.8, 3.6, 2.7 Perform a hypothesis test using a 8% level of significance. Step 1: State the null and alternative hypotheses. (So we will be performing a 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 with distribution mean C] and distribution standard deviation E. Step 3: Find the pvalue of the point estimate. P(IIi:]) =P =:] Step 4: Make a Conclusion About the null hypothesis. Since the pvalue = [j [:] = a, we the null hypothesis. 0 We cannot conclude that the mean sales of McDonald's restaurants in Kansas differ from average ' McDonald's sales worldwide. 0 We conclude that the mean sales of McDonald's restaurants in Kansas 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

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

Negative Binomial Regression

Authors: Joseph M Hilbe

2nd Edition

1139005960, 9781139005968

More Books

Students also viewed these Mathematics questions

Question

please dont use chat gpt or other AI 3 4 5 . SCADA .

Answered: 1 week ago