Statement regarding the dull in the alternative hypothesis, test statistics, p-value, significant level comparison, and statistical conclusion description of how the conclusion relates to the problem

Starting your own pizza business (Hypothesis Test for 1 Mean, Sigma Unknown) Be your own boss! Be financially independent with your own business! These are dreams that are within reach if you are willing to do some work and occasionally take some calculated risks. When starting a business, you analysis. need to decide what kind of business interests you. Then you need to gather data and do a little statistical To be specific, let's say you want to start a pizza franchise. What should you expect to pay for the franchise fee? Franchise fees permit you to use the franchise trade name such as Pizza Factory, Papa John's Pizza, I Domino's Pizza, and so forth. The fee usually includes basic training for operating the pizza franchise and making pizzas according to specifications, as well as marketing and advertising support. A random sample of 100 pizza franchises gave the following franchise fees (in thousands of dollars): 9.5 10 9.5 25 10 10 30 15 7.5 25 20 9.5 10 15 15 16 20 15 9.5 9.5 25 20 15 20 9.5 20 7.5 10 10 20 17 9.5 25 15 10 45 4.5 15 15 15 9.5 10 9.5 10 15 9.5 20 15 9.5 10 9.5 15 20 9.5 9.5 20 9.5 20 10 20 16 9.5 20 10 10 12 20 10 4.5 20 7.5 10 12 16 4.5 5 25 10 16 12 4.5 4.5 25 10 7.5 5.7 30 25 7.5 25 2 10 5.7 4.5 25 12 4.5 5.7 25 18 Suppose that you are taking out a small business loan. As part of your loan application packet, you have to decide how much money you will need for the franchise fee. However, your loan officer tells you that the typical franchise costs for a pizza business is $14,500 and that this is what you should request if you want to get the loan. Rather than taking the advice from the loan officer you decide to conduct a statistical analysis of the data to help you determine how much money to ask for the franchise fee. Analyze the data so that you can make your decisions. Keep in mind that the loan officer believes that $14,500 is the most you should ask for. This means that you have to present your analysis in a persuasive way so that you can convince the loan officer that you may need more or less money...assuming of course that the results of your analysis indicate that you will need more or less money. Using a combination of relevant descriptive statistics and hypothesis testing, along with charts (if applicable), create a draft of a presentation that will be used to convince the loan officer to lend you the amount of money you need