Sales at a Fast-Food Restaurant Average $6,000 Per Day

question 50

Multiple Choice

Sales at a fast-food restaurant average $6,000 per day. The restaurant decided to introduce an advertising campaign to increase daily sales. To determine the effectiveness of the advertising campaign,a sample of 49 days of sales were taken. They found that the average daily sales were $6,300 per day. From past history,the restaurant knew that its population standard deviation is about $1,000. If the level of significance is 0.05,have sales increased as a result of the advertising campaign?

• A)Fail to reject the null hypothesis.
• B)Reject the null hypothesis and conclude the mean is higher than $6,000 per day.
• C)Reject the null hypothesis and conclude the mean is lower than $6,000 per day.
• D)Reject the null hypothesis and conclude that the mean is equal to $6,000 per day.

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Definitions:

Inflation Expectations

The rate at which people expect prices to rise in the future, which can influence consumer and business spending behavior.

Unemployment Rate

The portion of the labor force that is out of work and actively pursuing employment opportunities.

Accommodation

Living or travel arrangements made for people while away from home, or adjustment made to make something suitable.

Bureau of Labor Statistics

A unit of the United States Department of Labor, which is responsible for collecting, processing, and disseminating statistical data on labor economics.