subject
Mathematics, 18.03.2021 01:10 laureimaneaxel

The Mean Corporation would like to invest in the booming health food industry. It is considering the creation of a health-drink franchise called Goose Juice. The investment department of the Mean Corporation wants to investigate the feasibility of this venture by examining the profits of similar franchises. It believes that the venture will be feasible if an average annual profit of more than $85,000 can be expected from each Goose Juice that is opened. It is known that the annual profits earned by health-drink franchises has a population standard deviation of $8,700. The Mean Corporation's statisticians would like to construct a hypothesis test for the population mean annual profit earned by health-drink franchises. A random sample of 50 franchises was chosen and their annual profit for the previous financial year was recorded. The mean annual profit for the sample was calculated as $82,441.

The hypotheses that were used by the statisticians were

Null hypothesis: population mean = 81,000, Alternative hypothesis: population mean > 81,000 and the test statistic was found to be 1.29 (to 2 decimal places).

Required:
Calculate the p-value for this test, giving your answer as a decimal to 4 decimal places.

ansver
Answers: 1

Another question on Mathematics

question
Mathematics, 21.06.2019 17:00
Which simplifys to a+ b? a-(1-b)+1 -(1-a)-b+1 (a--1) -1)+1
Answers: 1
question
Mathematics, 21.06.2019 19:00
Jack did 3/5 of all problems on his weekend homework before sunday. on sunday he solved 1/3 of what was left and the last 4 problems. how many problems were assigned for the weekend?
Answers: 3
question
Mathematics, 21.06.2019 22:30
Which of the following is an example of a rational number? a. π b. √ 9 c. √ 8 d. 3.8362319
Answers: 1
question
Mathematics, 21.06.2019 23:00
How many 2/5s are in 1 and 1/2 plz someone me right now
Answers: 1
You know the right answer?
The Mean Corporation would like to invest in the booming health food industry. It is considering the...
Questions
question
Mathematics, 15.12.2022 02:16
question
Mathematics, 16.12.2022 14:00
Questions on the website: 13722363