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1. A fast-food franchiser is considering building a restaurant at a certain location. Based on financial analysis, a site is acceptable only if the number of pedestrians passing the location averages more than 100 per hour. A random sample of 50 hours produced a sample mean of 110 pedestrians per hour. Historical studies have shown that the population standard deviation is 12 pedestrians per hour.

a. Does this data provide sufficient evidence to establish that the site is acceptable? Use a 0.05 level of significance. State your null and alternate hypothesis, and further, state your conclusion in non-technical terms. Also, what is the p-value for this hypothesis test?

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Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M9390655

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