Sales at a fast-food restaurant average $6,000 per day. The restaurant decided to introduce an advertising campaign to increase daily sales. In order to determine the effectiveness of the advertising campaign a sample of 49 days of sales were taken. They found that the average daily sales were $6,400 per day. From past history, the restaurant knew that its population standard deviation is about $1,000. The value of the test statistic is _______.
A) 2.8
B) 6,000
C) 6,400
D) 1.96

Question

Quizplus · Accepted Answer

The test statistic is calculated using the formula: (sample mean - population mean) / (population standard deviation / sqrt(sample size)). Here, it is (6400 - 6000) / (1000 / sqrt(49)) = 2.8.

Sales at a Fast-Food Restaurant Average $6,000 Per Day