Formulate the Indicated Conclusion in Nontechnical Terms

question 142

Multiple Choice

Formulate the indicated conclusion in nontechnical terms. Be sure to address the original claim.
-The owner of a football team claims that the average attendance at games is over 523, and he is therefore justified in moving the team to a city with a larger stadium. Assuming that a hypothesis test to support this
Claim has been conducted and that the conclusion is failure to reject the null hypothesis, state the conclusion in
Nontechnical terms.

• A) There is sufficient evidence to support the claim that the mean attendance is greater than than 523.
• B) There is not sufficient evidence to support the claim that the mean attendance is less than 523.
• C) There is sufficient evidence to support the claim that the mean attendance is less than 523.
• D) There is not sufficient evidence to support the claim that the mean attendance is greater than 523.

---

Definitions:

Holding Cost

The expenses associated with storing unsold goods, including warehousing, insurance, and spoilage costs.

Annual Inventory Cost

The total cost associated with holding and managing inventory over a year, including storage, insurance, and depreciation.

Current System

The existing set of procedures, resources, and processes currently in use by an organization or system.

Finished-Goods Inventories

The stock of completed products that are ready to be sold but are still held by the manufacturing company.