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 population 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) t test of a population proportion B) Z test of a population mean
C) t test of population mean D) Z test of a population proportion
B
Business
You might also like to view...
A correction of an error in prior periods' income will be reported: In the income statement, Net of tax
a. Yes Yes b. No No c. Yes No d. No Yes
Business
Which of the following is NOT a question to consider when choosing a survey method?
A) What is the incidence rate? B) How much money is there for data collection? C) How much time is there for data collection? D) What type of respondent interaction is required? E) Which is the easiest method for the researcher?
Business