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Becky Owns a Diner and Is Concerned About Sustaining the Business.She

Question 53

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Becky owns a diner and is concerned about sustaining the business.She wants to ascertain if the standard deviation of the profits for each week is greater than $250.The details of the profits for the week are (in dollars) 1,743 1,438 1,212 1,705 1,985 1,857 1,916
Assume that profits are normally distributed.Using the critical value approach at α = 0.05,which of the following is the correct conclusion for Becky's concern?


A) We reject H0becausethe value of the test statistic is greater than Becky owns a diner and is concerned about sustaining the business.She wants to ascertain if the standard deviation of the profits for each week is greater than $250.The details of the profits for the week are (in dollars) 1,743 1,438 1,212 1,705 1,985 1,857 1,916 Assume that profits are normally distributed.Using the critical value approach at α = 0.05,which of the following is the correct conclusion for Becky's concern? A) We reject H<sub>0</sub>becausethe value of the test statistic is greater than . B) We do not reject H<sub>0 </sub>becausethe value of the test statistic is greater than . C) We reject H<sub>0</sub>becausethe value of the test statistic is less than D) We do not reject H0becausethe value of the test statistic is less than .
B) We do not reject H0 becausethe value of the test statistic is greater than Becky owns a diner and is concerned about sustaining the business.She wants to ascertain if the standard deviation of the profits for each week is greater than $250.The details of the profits for the week are (in dollars) 1,743 1,438 1,212 1,705 1,985 1,857 1,916 Assume that profits are normally distributed.Using the critical value approach at α = 0.05,which of the following is the correct conclusion for Becky's concern? A) We reject H<sub>0</sub>becausethe value of the test statistic is greater than . B) We do not reject H<sub>0 </sub>becausethe value of the test statistic is greater than . C) We reject H<sub>0</sub>becausethe value of the test statistic is less than D) We do not reject H0becausethe value of the test statistic is less than .
C) We reject H0becausethe value of the test statistic is less than Becky owns a diner and is concerned about sustaining the business.She wants to ascertain if the standard deviation of the profits for each week is greater than $250.The details of the profits for the week are (in dollars) 1,743 1,438 1,212 1,705 1,985 1,857 1,916 Assume that profits are normally distributed.Using the critical value approach at α = 0.05,which of the following is the correct conclusion for Becky's concern? A) We reject H<sub>0</sub>becausethe value of the test statistic is greater than . B) We do not reject H<sub>0 </sub>becausethe value of the test statistic is greater than . C) We reject H<sub>0</sub>becausethe value of the test statistic is less than D) We do not reject H0becausethe value of the test statistic is less than
D) We do not reject H0becausethe value of the test statistic is less than Becky owns a diner and is concerned about sustaining the business.She wants to ascertain if the standard deviation of the profits for each week is greater than $250.The details of the profits for the week are (in dollars) 1,743 1,438 1,212 1,705 1,985 1,857 1,916 Assume that profits are normally distributed.Using the critical value approach at α = 0.05,which of the following is the correct conclusion for Becky's concern? A) We reject H<sub>0</sub>becausethe value of the test statistic is greater than . B) We do not reject H<sub>0 </sub>becausethe value of the test statistic is greater than . C) We reject H<sub>0</sub>becausethe value of the test statistic is less than D) We do not reject H0becausethe value of the test statistic is less than

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