Exhibit 9-9 the Sales of a Grocery Store Had an Average of Average

question 148

Multiple Choice

Exhibit 9-9
The sales of a grocery store had an average of $8,000 per day. The store introduced several advertising campaigns in order to increase sales. To determine whether or not the advertising campaigns have been effective in increasing sales, a sample of 64 days of sales was selected. It was found that the average was $8,300 per day. From past information, it is known that the standard deviation of the population is $1,200.
-Refer to Exhibit 9-9. The p-value is

• A)2.00
• B)0.9772
• C)0.0228
• D)0.5475

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Definitions:

As-needed Basis

A method or arrangement where resources are utilized or tasks are performed as and when required, rather than on a scheduled or continuous basis.

Cash Management

The process of collecting, managing, and investing a company’s cash and cash equivalents.

Appropriate Level

A suitable or optimal degree or magnitude for a particular situation or parameter, often used in finance and operations.

Cash On Hand

Funds that a company or individual has available in cash form, not invested or deposited in financial institutions.