Becky Owns a Diner and Is Concerned About Sustaining the Business

question 120

Multiple Choice

Becky owns a diner and is concerned about sustaining the business. She wants to ascertain if the standard deviation of the profits for each week is greater than $250. The details of the profits for the week are (in dollars) 1,743 1,438 1,212 1,705 1,985 1,857 1,916
Assume that profits are normally distributed. Which of the following are appropriate hypotheses to test Becky's concern?

• A) Η₀: σ² = 62,500, Η_A: σ² ≠ 62,500
• B) Η₀: σ² < 62,500, Η_A: σ² ≥ 62,500
• C) Η₀: σ² ≤ 62,500, Η_A: σ² > 62,500
• D) Η₀: σ² ≥ 62,500, Η_A: σ² < 62,500

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Definitions:

Locus of Control

Refers to an individual's belief about the extent to which their actions influence the outcomes in their lives.

Type B Personality

A temperament distinguished by its serene, forbearing, and unhurried demeanor.

Mindfulness Meditation

A practice of focusing one's mind on the present moment, often used as a technique to manage stress and enhance well-being.

Nonjudgmental

Pertains to an attitude or approach that is open-minded and free from rendering judgments, especially prematurely or without understanding.