Nick won a $1,000 lottery prize. he can't decide what he should spend the money on. for some time now, he has been planning to buy a gaming console, a bicycle, and a watch. but he also needs to save money for an overseas trip in the future. he can give up the bicycle and the watch, but he really wants that gaming console. on the other hand, he also wants to experience a foreign culture. in the end, he decides to save the whole amount for the trip. which item is the opportunity cost of nick’s trip?

Sales at a fast-food restaurant average $6,000 per day. the restaurant decided to introduce an advertising campaign to increase daily sales. to determine the effectiveness of the advertising campaign, a sample of 49 days of sales were taken. they found that the average daily sales were $6,300 per day. from past history, the restaurant knew that its population standard deviation is about $1,000. if the level of significance is 0.01, have sales increased as a result of the advertising campaign? multiple choicea)fail to reject the null hypothesis.b)reject the null hypothesis and conclude the mean is higher than $6,000 per day.c)reject the null hypothesis and conclude the mean is lower than $6,000 per day.d)reject the null hypothesis and conclude that the mean is equal to $6,000 per day.expert answer