Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The average Mcdonald's restaurant generates $3.7 million in sales each year with a standard deviation of 0.9. Stephen wants to know if the average sales

image text in transcribed

image text in transcribed
The average Mcdonald's restaurant generates $3.7 million in sales each year with a standard deviation of 0.9. Stephen wants to know if the average sales generated by Mcdonald's restaurants in Maryland is different than the worldwide average. He surveys 29 restaurants in Maryland and finds the following data (in millions of dollars): 2.8, 2.4, 3.4, 4.1, 4.9, 3.8, 3.6, 3.3, 2.8, 3.7, 4.4, 4.5, 2.2, 3.8, 3.1, 4.8, 3.4, 3.2, 3.1, 2.8, 4.2, 2.7, 3.6, 3, 4.8, 3.2, 2.2, 3, 3.8 Perform a hypothesis test using a 9% level of significance. Step 1: State the null and alternative hypotheses. Ho: 2 v ?v Ha: ? 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 v with distribution mean and distribution standard deviation Step 3: Find the p-value of the point estimate. P-value Step 4: Make a Conclusion About the null hypothesis. Since the P-value - Q, we Select an answer v the null hypothesis. We cannot conclude that the mean sales of Mcdonald's restaurants in Maryland differ from average McDonald's sales worldwide. We conclude that the mean sales of Mcdonald's restaurants in Maryland 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

Mathematical Logic Foundations For Information Science

Authors: Wei Li

2nd Edition

3034808623, 9783034808620

More Books

Students also viewed these Mathematics questions

Question

What are the characteristics of modern science?

Answered: 1 week ago