need to sell 250 bagels every day to break even on their purchase of bagels from the baker. The store manager, when closing the store for the night, notices that many bagels are left unsold and fears they are not breaking even. Rather than using anecdotes, the store manager decides to collect some data. 42 days are randomly sampled and the number of bagels sold on that day is measured. The sample mean is found to be 240 bagels with a standard deviati
A coffee shop gets its stock of bagels for the day delivered from a baker in the morning before opening. Suppose they need to sell 250 bagels every day to break even on their purchase of bagels from the baker. The store manager, when closing the store for the night, notices that many bagels are left unsold and fears they are not breaking even. Rather than using anecdotes, the store manager decides to collect some data. 42 days are randomly sampled and the number of bagels sold on that day is measured. The sample
(a) Set up the null and alternative hypothesis (using mathematical notation/numbers AND interpret them in the context of the problem)
(b) Calculate the test statistic
(c) Calculate the critical value
(d) Draw a picture of the distribution of the test statistic underH0. Label and provide values for the critical value and the test statistic, and shade the critical region.
(e) Make and justify a statistical decision at theα= 0.01 level and state your conclusion.
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