Exhibit 9-9
the Sales of a Grocery Store Had an Average

question 77

Multiple Choice

Exhibit 9-9
The sales of a grocery store had an average of $8,000 per day. The store introduced several advertising campaigns in order to increase sales. To determine whether or not the advertising campaigns have been effective in increasing sales, a sample of 64 days of sales was selected. It was found that the average was $8,300 per day. From past information, it is known that the standard deviation of the population is $1,200.
-Refer to Exhibit 9-9. The correct null hypothesis for this problem is

• A)\(\mu\) < 8000
• B)\(\mu\) > 8000
• C)\(\mu\) = 8000
• D)\(\mu\)> 8250

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Definitions:

Registered Retirement Savings Plan

A retirement savings and investing tool for employees and the self-employed in Canada, offering tax benefits.

Pay-as-you-go Philosophy

A financial strategy where expenses are paid for as they occur, rather than using credit or accumulating debt.

Reward Philosophy

An organization’s formal approach to managing employee compensation, benefits, and recognition in alignment with overall business strategy.

Earnings Philosophy

The underlying beliefs and principles that guide how an organization compensates its employees, reflecting values concerning fairness, performance, and the market.