Multiple Choice
An entrepreneur is considering the purchase of a coin-operated laundry. The current owner claims that over the past 5 years, the average daily revenue was $675 with a standard deviation of $75. A sample of 30 days reveals a daily average revenue of $625. If you were to test the null hypothesis that the daily average revenue was $675, which test would you use?
A) Z-test of a population proportion
B) Z-test of a population mean
C) t-test of a population proportion
D) t-test of population mean
Correct Answer:
Verified
Correct Answer:
Verified
Q10: A sample is used to obtain a
Q162: A manager of the credit department for
Q163: TABLE 9-4<br>A drug company is considering marketing
Q164: TABLE 9- 1<br>Microsoft Excel was used
Q165: TABLE 9-4<br>A drug company is considering marketing
Q168: For a given level of significance, if
Q169: A _ is a numerical quantity computed
Q170: TABLE 9-5<br>A bank tests the null
Q171: TABLE 9-3<br>An appliance manufacturer claims to have
Q172: Suppose, in testing a hypothesis about a