A Rollercoaster’s auditors estimate that the average daily loss from those illegally riding without tickets is at most (

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answerhappygod
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A Rollercoaster’s auditors estimate that the average daily loss from those illegally riding without tickets is at most (

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A Rollercoaster’s auditors estimate that the average daily lossfrom those illegally riding without tickets is at most (less orequal) $250, but wants to determine the accuracy of thisstatistic. The company researcher takes a random sample oflosses over 81 days and finds that = x̅$248 and s = $25.
a) Test at α = 0.04.
Step 1: Hypothesis
Step 2: Critical value and non-rejection range
Step 3: Compute test-value (calculated z)
Step 4: Reject or don’t reject (explain what thatmeans)
b) Construct a 95% confidence interval of losses
Note: a and b are independent.
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