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In 1990, the average duration of long-distance telephone calls originating in one town was 9.3 minutes. A long-distance telephone company wants to perform a hypothesis test to determine whether the average duration of long-distance phone calls has changed from the 1990 mean of 9.3 minutes.
Formulate the null and alternative hypotheses for the study described.
Market Attractiveness
An assessment of the potential profitability and opportunities within a specific market or industry segment.
Customer Needs
Requirements or desires that consumers express through their buying behavior, which drive demand for products or services.
No Economical Access To Buyers
A situation where sellers cannot reach potential customers in a cost-effective manner, often due to high distribution costs or market barriers.
Advertising
The act of promoting products, services, or ideas through various media channels to inform, persuade, or remind the target audience.
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