## An entrepreneur is considering the purchase of a coin-operated laundry. The current owner claims that over the past 5 years, the average dai

Question

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 with a level of significance level of 0.01. Which test would you use and why?

a. Z-test of a population mean.
b. T-test of population mean.
c. Z-test of population proportion.
d. t-test of a population proportion

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7 months 2021-07-17T07:27:54+00:00 1 Answers 30 views 0

The current owner claims that over the past 5 years, the average daily revenue was $675 with a standard deviation of$75.