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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 S506. 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 S06 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 S506. 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 S06 2 ), what is the critical value? (please round your answer to 2 decimal places)

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.5: Correlation And Causation
Problem 11PPS
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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 $6800 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)
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 $6800 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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