Question 1
For each of the following claims, mention what type of test should be used (one-tail, two-tail) and set up the null and alternate hypothesis.
Consider that the critical value is = CV (for example 1.96 retrieved from the z-table). For each H0, give the acceptance range.
a) The average grade on the final exam for BUS310 is 82.5.
b) The average of fat percent in this creamer is at most 7.5% fat.
c) The 87Cents Store claims that their daily profit is more than $1000.