Question: A Fast Food Franchiser is considering building a restaurant at a
A Fast-Food Franchiser is considering building a restaurant at a certain location. Based on financial analyses, a site is acceptable only if the number of pedestrians passing the location averages more than 100 per hour. The number of pedestrians observed for each of 40 hours was recorded. Assuming that the population standard deviation is known to be 16; can we conclude at the 1% significance level that the site is acceptable?
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