The general manager of a large discount chain was considering location of a new store in a small mid-western city. The decision was dependent upon the per capita retail sales for the city being significantly greater than $4,500. A sample of 500 residents was taken and showed a mean of $4,780. The population standard deviation is known as $25.
state the null and alternative hypothesis
specify the region for significance value(alpha) as 0.01
calculate the sample(test) statistic
calculate the p value
what is your conclusion