1. What were the alternatives you considered at the time of choice? 2. What were the perceived benefits of each considered alternative at the time of choice?
3. What action was taken; what choice was made?
4. What was the opportunity cost of that choice? (Remember that the opportunity cost of one alternative is the perceived benefits of the other alternative – the benefits that are given up. The benefit of doing something becomes the cost of not doing it.)
5. What are the pros and cons of being able to make a choice in this instance?

Sales at a fast-food restaurant average $6,000 per day. the restaurant decided to introduce an advertising campaign to increase daily sales. to determine the effectiveness of the advertising campaign, a sample of 49 days of sales were taken. they found that the average daily sales were $6,300 per day. from past history, the restaurant knew that its population standard deviation is about $1,000. if the level of significance is 0.01, have sales increased as a result of the advertising campaign? multiple choicea)fail to reject the null hypothesis.b)reject the null hypothesis and conclude the mean is higher than $6,000 per day.c)reject the null hypothesis and conclude the mean is lower than $6,000 per day.d)reject the null hypothesis and conclude that the mean is equal to $6,000 per day.expert answer