An Entrepreneur Is Considering the Purchase of a Coin-Operated Laundry

question 113

Multiple Choice

An entrepreneur is considering the purchase of a coin-operated laundry.The current owner claims that over the past five years,the average daily revenue was $675 with a standard deviation of $75.A sample of 30 days reveals a daily average revenue of $625.If you were to test the null hypothesis that the daily average revenue was $675,which test would you use?

• A) Z test of a population proportion.
• B) t test of a population mean.
• C) Z test of a population mean.
• D) t test of a population proportion.

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Definitions:

Function

A relationship or rule that defines how one variable's values are determined by another variable or other variables.

Standard Deviation

A statistic that measures the dispersion or variation of a dataset relative to its mean, indicating how spread out the data points are.

Exam Grades

A set of scores assigned to students to evaluate their performance on academic tests or assessments.

Uniformly Distributed

A type of distribution where all outcomes are equally likely to occur across the interval.