As an owner of a business, having a consistent level of sales is important. Prior to the recession that started in 2007, the standard deviation of the sales of a local business was $506. In a sample of 29 weeks since the start of the recession, sales have averaged S6800 per week with a standard deviation of $785. When testing the hypothesis (at the 5% level of significance) that the variance is higher than it was pre-recession (so the null hypothesis is that the variance is less than 506 2 ). what is the critical value? (please round your answer to 2 decimal places)
As an owner of a business, having a consistent level of sales is important. Prior to the recession that started in 2007, the standard deviation of the sales of a local business was $506. In a sample of 29 weeks since the start of the recession, sales have averaged S6800 per week with a standard deviation of $785. When testing the hypothesis (at the 5% level of significance) that the variance is higher than it was pre-recession (so the null hypothesis is that the variance is less than 506 2 ). what is the critical value? (please round your answer to 2 decimal places)
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
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Transcribed Image Text:As an owner of a business, having a consistent level of sales is important. Prior to the recession that started in 2007,
the standard deviation of the sales of a local business was $506. In a sample of 29 weeks since the start of the
recession, sales have averaged S6800 per week with a standard deviation of $785. When testing the hypothesis (at the
5% level of significance) that the variance is higher than it was pre-recession (so the null hypothesis is that the
variance is less than 506 2 ). what is the critical value? (please round your answer to 2 decimal places)
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Consider that σ is the true standard deviation of the sales of a local business.
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