A group of local businessmen is thinking about developing land into a shopping mall. To evaluate the desirability of the location, they count the number of shoppers who visit the neighboring shopping center each day. A random sample of 55 days reveals a daily average of 91 shoppers with a standard deviation of 46 shoppers. The businessmen will develop the land if the average number of shoppers per day is more than 80. Based on the sample data, should the businessmen develop the land? Perform a hypothesis test and use a significance level of α=0.01
. Assume the population of the number of daily shoppers is approximately normally distributed.
State the null and alternative hypotheses for the test. Fill in the blank below.
H0Ha: μ=80: μ ? 80
b. Compute the value of the test statistic. Round your answer to three decimal places.
c. Draw a conclusion and interpret the decision.