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Hypothesis test: Company claims meet/exceeding the standard

See attached data file.

The excel file sales data provides data on a sample of customers. An industry trade publication states that the average profit per customer for this industry was $4500. Using a test of this hypothesis, can this company claim that they are meeting the standard? Can this company claim that they are exceeding the standard?

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Solution Summary

This solution is comprised of detailed explanation of the relevant hypothesis tests. Interpretations based on the findings are included.

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