Question

Antelope Coffee, Inc., is considering the possibility of opening a gourmet coffee shop in Big Rock, Montana. Previous research has indicated that its shops will be successful in cities of this size if the mean annual family income is above $70,000. It is also assumed that the standard deviation of income is $5,000 in Big Rock, Montana. A random sample of 36 people was obtained, and the mean income was $72,300. Does this sample provide evidence to conclude that a shop should be opened? plz solve step by step and very clearly

Answer 1