A Recent Survey Indicated That the Average Amount Spent for Breakfast

question 1

Multiple Choice

A recent survey indicated that the average amount spent for breakfast by business managers was $7.58,
with a standard deviation of $0.42. It was felt that breakfasts on the West Coast were higher than $7.58. A
sample of 81 business managers on the West Coast had an average breakfast cost of $7.65.
-Give the p-value for the data provided above.

• A) 0.4987
• B) 0.0084
• C) 0.1325
• D) 0.0668

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Definitions:

Global Competitive Market

A marketplace characterized by the presence of competitors from all over the world, influencing prices, products, and strategies.

Future Outcomes

Potential results or consequences of actions taken in the present or decisions made considering future possibilities and uncertainties.

Organizations

Groups or structures created to achieve specific goals through collective effort.

Collectivist Cultures

Societies that emphasize the needs and goals of the group as a whole over the needs and desires of each individual, fostering strong family or group ties.