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e A student organization uses the proceeds from a soft drink vending machine to finance its activities. The price per can was $0.75 for a long time, and the mean daily revenue during that period was $135.00. The price was recently increased to $1.00 per can. A random sample of n = 29 days after the price increase yielded a sample mean daily revenue and sample standard deviation of $130.00 and $3.90, respectively. Does this information suggest that the mean daily revenue has decreased from its value before the price increase? Test the appropriate hypotheses using a = 0.05, D 0000 _/ \\We are given that a student organization uses the proceeds from a soft drink vending machine to finance its activities. The price per can was $0.75 for a long time, and the mean daily revenue during that period was $135.00. / The price was recently increased to $1.00 per can. A random sample of 29 days after the price increase yielded a sample mean daily revenue and sample standard deviation of $130.00 and $3.90, respectively. We are asked to determine if this information suggests that the mean dally revenue has decreased from its value before the price increase by testing appropriate hypotheses using a = 0.05. Use the five-step process for hypothesis testing problems. / The first step is Hypotheses. ; | Determine the null and alternative hypotheses. The question is whether the mean daily revenue has decreased from its value before the price increase, when the mean daily revenue was $135.00. This translates to an alternative hypothesis of / 17 V] 135. The null hypothesis is that there is no difference between the mean revenue before and after the price increase, , pel s . | Therefore, we have the following. Hyt e 0 l | | l\\ Hy k(2v13s |