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An entrepreneur is considering the purchase of a coin operated laundry. The present owner claims that over the past 5 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, which test would you use?

a. Z-test of a population mean
b. Z-test of a population proportion
c. t test of a population mean
d. x^2 test of a population variance

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The solution explains what the right test should be to use for testing certain parameters.

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In this case you are comparing the "average" daily revenue. "Average" is another word for ...

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