You are considering purchasing a coin operated laundry in a neighborhood. The previous owner claims that the average revenues from the laundry exceed $750 per day. You agree to purchase the laundry only if you feel confident that the laundry s revenues exceed $750 per day. You gather revenue data on 120 randomly selected days, and obtain a sample mean of $785, with a standard deviation of $95. At= .01, would you still purchase the laundry?

The Null Hypothesis for this problem is that Revenues are $750.00 with an Alternate Hypothesis is that Revenues > $750.I will not be able to reject the Null Hypothesis since my calculated Z is greater than my critical Z* of 4.035.Therefore, I will purchase the laundry

The Null Hypothesis for this problem is that Revenues are $750.00 with an Alternate Hypothesis is that Revenues < $785.I will not be able to reject the Null Hypothesis since my calculated Z is greater than my critical Z* of 4.035.Therefore, I will not purchase the laundry

The Null Hypothesis for this problem is that Revenues are $785.00 with an Alternate Hypothesis is that Revenues > $750.I will reject the Null Hypothesis since my calculated Z is greater than my critical Z* of 4.035.Therefore, I purchase the laundry (marked as incorrect)

The Null Hypothesis for this problem is that Revenues are $750.00 with an Alternate Hypothesis is that Revenues > $750. I will reject the Null Hypothesis since my calculated Z is greater than my critical Z* of 2.33.Therefore, I will purchase the laundry (marked as incorrect)