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. The t-test will determine if there is a statistically significant difference between the two means.

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