Use the Below Information to Answer the Following Question(s)

question 97

Multiple Choice

Use the below information to answer the following question(s) .
The following table provides data on a sample of customers who visited a local restaurant.The restaurant owner believes that the average profit per customer exceeds $25.
-Which of the following is the conclusion?

• A)The null hypothesis that the average profit per customer exceeds $25 cannot be rejected.
• B)The null hypothesis that the average profit per customer does not exceed $25 is rejected.
• C)The null hypothesis that the average profit per customer does not exceed $25 cannot be rejected.
• D)The null hypothesis that the average profit per customer exceeds $25 is rejected.

---

Definitions:

Long-Run Supply Function

A representation of the relationship between the price of a good and the quantity supplied over a period where all factors of production are variable.

Long-Run Cost Function

An economic concept reflecting the total cost of production where all inputs can be fully adjusted to minimize costs.

Positive Output

The result of production processes or economic activities that yield a beneficial or productive outcome.

Production Function

An equation or formula that describes the relationship between inputs (like labor and capital) and the output of goods or services.