You are the manager of a local bakery, and are looking to investigate if you should add a new pie to your shop permanently. To test this, you sell the pie in your store over the next 21 days, and record the daily sales for the pie. You find that the average daily sales for this new pie were $296.31, with a sample standard deviation of $59.32. You want to introduce this new pie only if the population mean of daily sales is greater than $280 per day. Using hypothesis testing to see if you should add the new pie, with an alpha level of 0.01, what is the value of the critical value of your analysis, accurate to two decimal places? Round your final answer to three decimal places. -1.260 2.528 -2.528 1.260 2.845
You are the manager of a local bakery, and are looking to investigate if you should add a new pie to your shop permanently. To test this, you sell the pie in your store over the next 21 days, and record the daily sales for the pie. You find that the average daily sales for this new pie were $296.31, with a sample standard deviation of $59.32. You want to introduce this new pie only if the population mean of daily sales is greater than $280 per day. Using hypothesis testing to see if you should add the new pie, with an alpha level of 0.01, what is the value of the critical value of your analysis, accurate to two decimal places? Round your final answer to three decimal places. -1.260 2.528 -2.528 1.260 2.845
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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![You are the manager of a local bakery, and are looking to investigate if you should
add a new pie to your shop permanently. To test this, you sell the pie in your store
over the next 21 days, and record the daily sales for the pie. You find that the
average daily sales for this new pie were $296.31, with a sample standard deviation
of $59.32. You want to introduce this new pie only if the population mean of daily
sales is greater than $280 per day.
Using hypothesis testing to see if you should add the new pie, with an alpha level of
0.01, what is the value of the critical value of your analysis, accurate to two decimal
places? Round your final answer to three decimal places.
-1.260
2.528
-2.528
1.260
2.845](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fcdea71b3-bded-48e5-a967-4b696f3e6987%2F3c3d419a-220e-4c63-9c2d-2cd09476e8de%2Falrvj3m_processed.png&w=3840&q=75)
Transcribed Image Text:You are the manager of a local bakery, and are looking to investigate if you should
add a new pie to your shop permanently. To test this, you sell the pie in your store
over the next 21 days, and record the daily sales for the pie. You find that the
average daily sales for this new pie were $296.31, with a sample standard deviation
of $59.32. You want to introduce this new pie only if the population mean of daily
sales is greater than $280 per day.
Using hypothesis testing to see if you should add the new pie, with an alpha level of
0.01, what is the value of the critical value of your analysis, accurate to two decimal
places? Round your final answer to three decimal places.
-1.260
2.528
-2.528
1.260
2.845
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