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## Statistics

Formulating null and alternative hypothesis to test the claim that the Wendy's franchise has been averaging about \$5000.

A Wendy's franchise has been averaging about \$5000 worth of business on a typical Saturday with the 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.

If the true mean for Saturday sales is now \$4500, what is the probability of accepting the (false) null hypothesis in (a) above (the probability of not sharing the manager's concern due to lack of evidence)?

Statistics and Probability, Statistics

• Category:- Statistics and Probability
• Reference No.:- M920982

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