A coffee shop gets its stock of bagels for the day delivered from a baker in the morning before opening. Suppose they need to sell 250 bagels everyday to break even on their purchase of bagels from the baker. The store manager, when closing the store for the night, notices that many bagels are left unsold and fears they are not breaking even. Rather than using anecdotes, the store manager decides to collect some data. 42 days are randomly sampled and the number of bagels sold in that day is measured. The sample mean is found to be 240 bagels with a standard deviation of 30 bagels. Are they losing money selling bagels? Let μ be the true number of bagels sold in a day. Test this at claim at the α = 0.01 level. (d) Draw a picture of the distribution of the test statistic under H0. Label and provide values for the critical value and the test statistic, and shade the critical region - the test statistic would be -2.160
A coffee shop gets its stock of bagels for the day delivered from a baker in the morning before opening. Suppose they need to sell 250 bagels everyday to break even on their purchase of bagels from the baker. The store manager, when closing the store for the night, notices that many bagels are left unsold and fears they are not breaking even. Rather than using anecdotes, the store manager decides to collect some data. 42 days are randomly sampled and the number of bagels sold in that day is measured. The sample mean is found to be 240 bagels with a standard deviation of 30 bagels. Are they losing money selling bagels? Let μ be the true number of bagels sold in a day. Test this at claim at the α = 0.01 level.
(d) Draw a picture of the distribution of the test statistic under H0. Label and provide values for the critical value and the test statistic, and shade the critical region - the test statistic would be -2.160
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