The Owner of a Local Karaoke Bar Has Recently Surveyed $\sigma$

question 75

Multiple Choice

The owner of a local Karaoke Bar has recently surveyed a random sample of n = 300 customers of the bar.She would now like to determine whether or not the mean age of her customers is over 35.If so,she plans to alter the entertainment to appeal to an older crowd.If not,no entertainment changes will be made.If she wants to be 99% confident in her decision,what rejection region she use if the population standard deviation $\sigma$ is known?

• A) Reject H₀ if z < -2.33
• B) Reject H₀ if z < -2.58
• C) Reject H₀ if z > 2.33
• D) Reject H₀ if z > 2.58

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Definitions:

Incentive Structures

Systems or processes designed to motivate individuals to perform certain actions by offering rewards or punishments.

Principal-Agent Problem

Refers to a situation in business where there is a conflict of interest between a principal (e.g., an owner or shareholder) and an agent (e.g., a CEO or manager) hired to act on the principal's behalf.

Stockholders

Individuals or entities that own shares in a corporation, giving them ownership interests and rights to dividends.

Workers

Workers are individuals engaged in physical or intellectual activities to produce goods or provide services in exchange for wages.