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Formulating null and alternative hypothesis to test the claim averaging about $5000.

A Wendy's franchise has been averaging about $5000 worth of business on a typical Saturday with a standard deviation of σ = $500.  The manager is concerned that sales are slipping, after taking into account the average value of sales for four consecutive Saturdays being $4800. 

What have to the level of significance been to arrive at a conclusion?

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  • Category:- Statistics and Probability
  • Reference No.:- M920981

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