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

question 66

Multiple Choice

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 and a standard deviation of $70. Which of the following tests will be the most appropriate?

• A) separate-variance t test
• B) t test for mean
• C) Z test for proportion
• D) pooled-variance t test

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Definitions:

In-House Attorneys

Lawyers who are employed directly by a corporation or organization to provide legal services exclusively to their employer.

Legal Affairs

Relates to matters or activities associated with the law, legal processes, or the functioning of the legal system.

Financial Reports

Official records that outline the financial activities, status, and health of a business, organization, or individual.

Purchasing Decisions

The process involved in identifying and procuring goods and services based on need, quality, and price considerations.