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You are the manager of a local bakery, and are looking to investigate if you should add a new pie to your shop permanently. To test this, you sell the pie in your store over the next 21 days, and record the daily sales for the pie. You find that the average daily sales for this new pie were $296.31, with a sample standard deviation of $59.32. You want to introduce this new pie only if the population mean of daily sales is greater than $280 per day. Using hypothesis testing to see if you should add the new pie, with an alpha level of 0.01, what is the value of the critical value of your analysis, accurate to two decimal places? Round your final answer to three decimal places. -1.260 2.528 -2.528 1.260 2.845

You are the manager of a local bakery, and are looking to investigate if you should add a new pie to your shop permanently. To test this, you sell the pie in your store over the next 21 days, and record the daily sales for the pie. You find that the average daily sales for this new pie were $296.31, with a sample standard deviation of $59.32. You want to introduce this new pie only if the population mean of daily sales is greater than $280 per day. Using hypothesis testing to see if you should add the new pie, with an alpha level of 0.01, what is the value of the critical value of your analysis, accurate to two decimal places? Round your final answer to three decimal places. -1.260 2.528 -2.528 1.260 2.845

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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You are the manager of a local bakery, and are looking to investigate if you should add a new pie to your shop permanently. To test this, you sell the pie in your store over the next 21 days, and record the daily sales for the pie. You find that the average daily sales for this new pie were $296.31, with a sample standard deviation of $59.32. You want to introduce this new pie only if the population mean of daily sales is greater than $280 per day. Using hypothesis testing to see if you should add the new pie, with an alpha level of 0.01, what is the value of the critical value of your analysis, accurate to two decimal places? Round your final answer to three decimal places. -1.260 2.528 -2.528 1.260 2.845
Transcribed Image Text:You are the manager of a local bakery, and are looking to investigate if you should add a new pie to your shop permanently. To test this, you sell the pie in your store over the next 21 days, and record the daily sales for the pie. You find that the average daily sales for this new pie were $296.31, with a sample standard deviation of $59.32. You want to introduce this new pie only if the population mean of daily sales is greater than $280 per day. Using hypothesis testing to see if you should add the new pie, with an alpha level of 0.01, what is the value of the critical value of your analysis, accurate to two decimal places? Round your final answer to three decimal places. -1.260 2.528 -2.528 1.260 2.845
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