Sales at a fast-food restaurant average $6,000 per day. The restaurant decided to introduce an advertising...

 

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Sales at a fast-food restaurant average $6,000 per day. The restaurant decided to introduce an advertising campaign to increase daily sales. 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 $6,300 per day. From past history, the restaurant knew that its population standard deviation is about $1,000. If the level of significance is 0.01, have sales increased as a result of the advertising campaign? Your answer should clearly mention the following. a) Write down the null and alternate hypothesis. b) What is the critical value and the decision rule? c) What is the test statistic? d) What is the decision and interpretation of the same? Sales at a fast-food restaurant average $6,000 per day. The restaurant decided to introduce an advertising campaign to increase daily sales. 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 $6,300 per day. From past history, the restaurant knew that its population standard deviation is about $1,000. If the level of significance is 0.01, have sales increased as a result of the advertising campaign? Your answer should clearly mention the following. a) Write down the null and alternate hypothesis. b) What is the critical value and the decision rule? c) What is the test statistic? d) What is the decision and interpretation of the same?

Answer rating: 100% (QA)

ANSWER a Null hypothesis H0 There is no significant increase in daily sales as a result of the adver... View the full answer