1. Use the statement below to answer the following questions.

You run a small business, and you believe that your revenues have been going up. In the past you made an average of $4500 each week. You have recently taken the data on the revenue for 30 weeks and calculated a mean of $5300 and a standard deviation of $1700. Perform a hypothesis test with a confidence level of 95%.

State the hypotheses (here are some needed symbols: )

H₀:

H₁:

The critical value is

The test statistic is

2. Using the information from the previous problem, state the conclusion for the hypothesis test.

3.