Business, 19.03.2020 01:00 mir1425

A car dealer who sells only late-model luxury cars recently hired a new salesman and believes that this salesman is selling at lower markups. He knows that the long-run average markup in his lot is $5,600. He takes a random sample of 16 of the new salesman's sales and finds an average markup of $5,000 and a standard deviation of $800. Assume the markups are normally distributed. What is the value of an appropriate test statistic for the car dealer to use to test his claim?

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