Question: A new breakfast cereal Frosted Corn is test marketed for one month. The total sales for the first 9 quarters indicate an average of $8350, with a standard deviation of $1840. Based on a cost-profit analysis, production of Frosted Corn will be discontinued if the sample average of the first 9 quarters falls below $9000 with statistical significance. Does the data indicate production will be stopped?

State the hypothesis, the test statistic, the conclusion, (what you are accepting or rejecting) and make sure you answer the question.