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(Solved): 6 Of 10 ID: MST.HT.TM.02.0020 [3 Points) The Mean Corporation Would Like To Invest In The Booming He ...


6 of 10 ID: MST.HT.TM.02.0020 [3 points) The Mean Corporation would like to invest in the booming health food industry, it is
6 of 10 ID: MST.HT.TM.02.0020 [3 points) 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 Moan Corporation wants to investigate the feasibility of this venture by examining the profits of similar tranchises. I believes that the venture will be feasible an average annual profit of more than 88.000 can be expected from each Goose Juice that is opened. It is known that the annual profits amed by health branchises has a population standard deviation of $7,400 The Mean Corporation's statisticians would like to construct a hypothesis test for the mean annual profit() earned by health drink franchises. A random sample of 30 franchises were chosen and the annual pro for the previous financial year was recorded. The mean annual profit for the sample was calculated as $89,600. The hypotheses that will be used by the statisticians are Hou-88.000 and H u > 8.000 Mean Corporation a) Calculate the best state that corresponds to the sample and hypotheses Give your answer to 3 decimal places b) Using the test statistics for the Mean Corporation's hypothesis test and level 0.05, the Mean Corporation should the null hypothesis c) the age is increased to but the same mean mains unchanged the Moon Corporation should pothesis

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