Probability of accepting false null hypothesis

Reference no: EM1320803

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.

If the true mean for Saturday sales is now $4500, what is the probability of accepting the (false) null hypothesis.

Reference no: EM1320803

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