An entrepreneur is considering the purchase of a coin-operated laundry. The pres

Question

An entrepreneur is considering the purchase of a coin-operated laundry. The present
owner claims that over the past 5 years, the average daily revenue was $675 with a
standard deviation of $75. A sample of 30 days reveals a daily average revenue of
$625. If you were to test the null hypothesis that the daily average revenue was $675
and decide not to reject the null hypothesis, what can you conclude?

A - There is not enough evidence to conclude that the daily average revenue was $675.
B - There is not enough evidence to conclude that the daily average revenue was not $675.
C - There is enough evidence to conclude that the daily average revenue was $675.
D - There is enough evidence to conclude that the daily average revenue was not $675.

Explanation / Answer

Answer: B - There is not enough evidence to conclude that the daily average revenue was not $675.

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

---