In: Statistics and Probability
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
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