Burger Annual sales in Thousands The Restaurant claims that the average annual sales...

    Burger Annual sales in Thousands        The Restaurant claims that the average annual sales for burgers is $1500K for Burgers
   2400.0       Test this claim by formulating Null and Alternate hypotheses. Assume the alpha =0.05.
   1230.0       Calculate the test statistics and critical values, etc.….
   1418.0
   1023.0
   1322.0
   540.0
   1054.0
   1709.0
   1590.0
   1139.0
   1641.2
   830.4
   1300.0
   1925.0
   1036.0

Solutions

Expert Solution

Since we know that

Where n is the number of data points

Now

and n = 15

This implies that

The test hypothesis is

This is a two-sided test because the alternative hypothesis is formulated to detect differences from the hypothesized mean value of 30 on either side.

Now, the value of test static can be found out by following formula:

Critical value

Since t0 = -1.3087 < -2.1447866879169273 = -t{0.025}, we fail to reject the null hypothesis

orchestra answered 1 year ago

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