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In: Statistics and Probability

Ralph’s Bookstores have indicated that the annual gross revenue for their stores has a standard deviation...

Ralph’s Bookstores have indicated that the annual gross revenue for their stores has a standard deviation of σ=$50,000.   You have sampled the annual gross revenue of 64 of Ralph’s Bookstores and found that the sample mean annual gross revenue is $270,000,   Conduct a hypothesis test to show that the population mean annual gross revenue is greater than $250,000. Test at a level of significance of 0.05.

State the hypotheses for the test by filling in the blanks. Do not give commas or units as part of your answers. Do not use symbols; rather, use the words of "less than," "greater than" or "not equals" as determined is appropriate for the problem.

H0 : μ = _____________(blank #1) vs. Ha : μ ____________(blank #2) 250000

Answer for blank # 1:
Answer for blank # 2:

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