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

---

Definitions:

International Currency Markets

Global platforms for exchanging one country's currency for another's, influencing foreign exchange rates and international trade.

Demand for Imports

The desire and ability of a country to purchase goods and services from other countries.

Floating Exchange Rates

A system in which the value of a currency is determined by the forex market based on supply and demand relative to other currencies, unlike fixed exchange rates that are tied to a physical commodity or another currency.

Gold Convertible

A financial system where a country's currency has a fixed value in terms of gold, allowing it to be exchanged for a specified amount of gold.