Hypothesis to test the claim averaging

Reference no: EM1320545

Formulating null and alternative hypothesis to test the claim averaging about $5000.

A Wendy's franchise has been averaging about $5000 worth of business on a typical Saturday with a standard deviation of σ = $500. The manager is concerned that sales are slipping, after taking into account the average value of sales for four consecutive Saturdays being $4800.

What should the level of significance be to arrive at a conclusion ?

Reference no: EM1320545

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