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We want to conduct a hypothesis test of the claim that the population mean daily profit of a convenience store is less than 485 dollars.
We want to conduct a hypothesis test of the claim that the population mean daily profit of a convenience store is less than 485 dollars. So, we record the daily profit for a random sample of days. The sample has a mean of 504 dollars and a standard deviation of 70 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. (a) The sample has size 90 , and it is from a non-normally distributed population with a known standard deviation of 77 . z=t= It is unclear which test statistic to use. (b) The sample has size 15 , and it is from a population with a distribution about which we know very little. z=t= It is unclear which test statistic to use
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