Information in deciding to open a store

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Reference no: EM1313384

Q. The owners of Johnny Jims claim which their stores average $875,000 in annual sales. You used this information in deciding to open a store. Your store Explain however has not come even close to these annual sales. You want to prove which the figures given to you were misleading also which in fact the true population sales figures must be below 875,000. You collect annual sales figures from 70 randomly preferred stores. The average in your sample turns out to be $856,000, with a standard deviation of $24,000.

Reference no: EM1313384

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