1. Sales at a fast-food restaurant average $6,000 per day. The restaurant decided to introduce an advertising campaign to increase daily sales. To determine the effectiveness of the advertising campaign, a sample of 49 days of sales was taken. It found that the average daily sales were $6,400 per day. From past history, the restaurant knew that its population standard deviation is about $1,000. The value of the test statistic is _______.
2. In a distribution, the second quartile corresponds with the __________.
3. Consider the following regression analysis between sales (Y in $1,000) and social media advertising (X in dollars). = 55,000 + 7X
The regression equation implies that an: (select one)
increase of $7 in advertising is associated with an increase of $7,000 in sales.
increase of $1 in advertising is associated with an increase of $62,000 in sales.
increase of $1 in advertising is associated with an increase of $7,000 in sales.
increase of $1 in advertising is associated with an increase of $7 in sales.
4. When a class interval is expressed as 100 up to 200, _________________________. (select one)
Observations with values of 200 are excluded from the class
Observations with values of 100 are excluded from the class
Observations with values of 200 are included in the class
The class interval is 99
5. The first card selected from a standard 52-card deck was a king. If it is returned to the deck, what is the probability that a king will be drawn on the second selection? (select one)
1/4 or 0.25
12/13 or 0.923
1/13 or 0.077
1/3 or 0.33