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An entrepreneur is considering the purchase of a coin-operated laundry. The current owner claims that over the past 5 years, the mean daily revenue was $6750 with a population standard deviation of $265. A sample of randomly selected 30 days reveals a daily mean revenue of $6280. If you were to test the null hypothesis that the daily mean revenue was $6750, which test would you use?.

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Based on the given value of sample size and the population standard deviation, the required test for the null hypothesis is the Z test of population mean.

  • The Z test of population is used to test the null hypothesis of a Normal distribution.

  • Since, the sample size is large (>30) and the variance of the population is known, the most appropriate test of hypothesis to use is the Z test of population mean.

Learn more : https://brainly.com/question/25576166

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