Mrs. Sal is considering of running a saloon business. The present owner claimed that over the past 6 years the average daily revenue has been RM 675 with a standard deviation of RM 75. A sample of 30 selected days reveals daily average revenue of RM 625. Use p- value approach. Using the 0.01 level of significance, is there evide
Mrs. Sal is considering of running a saloon business. The present owner claimed that over the past 6 years the average daily revenue has been RM 675 with a standard deviation of RM 75. A sample of 30 selected days reveals daily average revenue of RM 625. Use p- value approach. Using the 0.01 level of significance, is there evide
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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Mrs. Sal is considering of running a saloon business. The present owner claimed that over the past 6
years the average daily revenue has been RM 675 with a standard deviation of RM 75. A sample of 30
selected days reveals daily average revenue of RM 625. Use p- value approach.
Using the 0.01 level of significance, is there evidence that the claim of the present owner is not
valid?
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