Big State University operates a large cafeteria located in the heart of campus.

Question

Big State University operates a large cafeteria located in the heart of campus. The university's financial administration has initiated a study into the daily revenue generated by the cafeteria. It is widely accepted that the standard deviation of daily revenue is $3,000. The cafeteria's accountant has speculated that the average daily revenue is $70,000. As an analyst hired by Big State University, you have formulated the following hypothesis test: Ho: = $ 70,000 * $ 70,000 You intend to use a level of significance of 0.1. Suppose the resulting test statistic is -1.9. You fail to reject the null hypothesis. True False

Explanation / Answer

False

The P-Value is 0.057433.

The result is significant at p < 0.10.

If the p-value is less than 0.1, we reject the null hypothesis

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