Question: A Rollercoaster's auditors estimate that the average daily loss from those illegally riding without tickets is at least (greater or equal) $300, but wants to

A Rollercoaster's auditors estimate that the average daily loss from those illegally riding without tickets is at least (greater or equal) $300, but wants to determine the accuracy of this statistic.The company researcher takes a random sample of losses over 64 days and finds that= $315 and s = $30.

a) Test at = 0.05

Step 1: Hypothesis

Step 2: Critical value and acceptance-range

Step3: Compute test-value(calculated z)

Step 4: Accept or reject (ALWAYS EXPLAIN WHY YOU ACCEPT OR REJECT)

b) Construct a 90% confidence interval of losses

Note: a and b are independent

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