An Entrepreneur Is Considering the Purchase of a Coin-Operated Laundry

question 30

Multiple Choice

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 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 and decide not to reject the null hypothesis, what can you conclude?

• A) There is not enough evidence to conclude that the daily mean revenue was $675.
• B) There is not enough evidence to conclude that the daily mean revenue was not $675.
• C) There is enough evidence to conclude that the daily mean revenue was $675.
• D) There is enough evidence to conclude that the daily mean revenue was not $675.

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Definitions:

Seas Saltier

A condition resulting from the evaporation of ocean water, which increases the concentration of salts, making the seas saltier.

Quartzite

A hard, metamorphic rock formed from quartz-rich sandstone that has undergone heat and pressure transformations.

Weather

The state of the atmosphere at a place and time as regards heat, dryness, sunshine, wind, rain, etc.

Physical Weathering

The natural breakdown of rocks and minerals at the Earth's surface due to physical processes such as temperature changes, wind, water, and ice, without altering the rock's chemical composition.