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Name: Grace floral shop claims that their average daily earnings is $497. An
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Description: Grace floral shop claims that their average daily earnings is $497. An auditor wants to determine whether this claim is true . the auditor selected a sample of 100 days and found that that the sample mean earnings was $495 with a sample standard devi

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Grace floral shop claims that their average daily earnings is $497. An auditor wants to determine whether this claim is true . the auditor selected a sample of 100 days and found that that the sample mean earnings was $495 with a sample standard deviation of 9.75.assist the auditor in conducting a hypothesis test, at the 3% level of significant, to determine whether the claim about their average daily earnings was overstated.

Calculate the p-value of the test

State conclusion for the test.give reason for your answer

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