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Small Companies Sales. Forbes magazine publishes data on the best small companies, most recently here http://www.forbes.
First state the null and alternative hypotheses:
H0: Ha:
What are the sample mean and test statistic?
What is the p-value?
State whether you reject or fail to reject the null and why. Then interpret your decision: do the data provide sufficient evidence that the true sales mean is different from $750 million?
You actually also happened to calculate a 99% CI in this exercise.
Interpret the 99% CI:
Does the mean µ = $750 land inside or outside of the CI? Does this supports the conclusion you made in the hypothesis test? Why or why not? Use your interpretation in Problem 20 to help answer this.
