Exhibit 9-2

question 102

Multiple Choice

Exhibit 9-2.The owner of a large car dealership believes that the financial crisis decreased the number of customers visiting her dealership.The dealership has historically had 800 customers per day.The owner takes a sample of 100 days and finds the average number of customers visiting the dealership per day was 750.Assume that the population standard deviation is 350. Refer to Exhibit 9-2.In order to determine whether there has been a decrease in the average number of customers visiting the dealership daily,the appropriate hypotheses are _________.

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Definitions:

Complementary Input

Goods or services that enhance the value or efficiency of another product or service when used together.

Demand Curve

A graph that shows the relationship between the price of a product and the quantity of the product demanded.

Substitution Effect

The substitution effect occurs when consumers replace more expensive items with less expensive alternatives as prices change, thereby altering their consumption patterns.

Baby Boomers

The demographic cohort following World War II, typically defined as individuals born from 1946 to 1964, characterized by a significant increase in birth rates.