Question
We want to conduct a hypothesis test of the claim that the population mean daily profit of a convenience store is more than 546 dollars.
We want to conduct a hypothesis test of the claim that the population mean daily profit of a convenience store is more than
546
dollars. So, we record the daily profit for a random sample of days. The sample has a mean of
550
dollars and a standard deviation of
79
dollars.
For each of the following sampling scenarios, choose an appropriate test statistic for our hypothesis test on the population mean. Then calculate that statistic. Round your answers to two decimal places.
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