An entrepreneur is considering the purchase of a coin-operated laundry. The current owner claims that over the past 5 years, the mean daily revenue was $675 with a standard deviation of $75. A
Sample of 30 days reveals a daily mean revenue of $625 and a standard deviation of $70. Which
Of the following tests will be the most appropriate?
A) t test for the mean.
B) Z test for the proportion.
C) Pooled-variance t test.
D) Separate-variance t test.

Question

Quizplus · Accepted Answer

The t test for the mean is the most appropriate test because it is used to compare the mean of a sample to a known population mean. In this case, the population mean is $675 and the sample mean is $625.

An Entrepreneur Is Considering the Purchase of a Coin-Operated Laundry