Discussion:
Q1: A fast-food franchiser is considering building a restaurant at a certain location. Based on financial analysis, a site is acceptable only if the number of pedestrians passing the location averages more than 100 per hour. A random sample of 50 hours produced a sample mean of 110 pedestrians per hour. Historical studies have shown that the population standard deviation is 12 pedestrians per hour.
Q2: Does this data provide sufficient evidence to establish that the site is acceptable? Use a 0.05 level of significance. State your null and alternate hypothesis, and further, state your conclusion in non-technical terms. Also, what is the p-value for this hypothesis test?