Multiple Choice
An entrepreneur is considering the purchase of a coin-operated laundry. The current owner claims that over the past 5 years, the mean daily revenue was $675 with a standard deviation of $75. A sample of 30 days reveals a daily mean revenue of $625. If you were to test the null hypothesis that the daily mean revenue was $675, which test would you use?
A) Z-test of a population mean
B) Z-test of a population proportion
C) t-test of a population mean
D) t-test of a population proportion
Correct Answer:
Verified
Correct Answer:
Verified
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