An entrepreneur is considering the purchase of a coin-operated laundry.The current owner claims that over the past five years,the average daily revenue was $675 with a standard deviation of $75.A sample of 30 days reveals a daily average revenue of $625.If you were to test the null hypothesis that the daily average revenue was $675 and decide not to reject the null hypothesis,what can you conclude?
A) There is enough evidence to conclude that the daily average revenue was $675.
B) There is not enough evidence to conclude that the daily average revenue was $675.
C) There is not enough evidence to conclude that the daily average revenue was not $675.
D) There is enough evidence to conclude that the daily average revenue was not $675.

Question

Quizplus · Accepted Answer

If you decide not to reject the null hypothesis, it means there is not enough evidence to conclude that the daily average revenue was not $675.

An Entrepreneur Is Considering the Purchase of a Coin-Operated Laundry