(Use Excel) An entrepreneur examines monthly sales (in $ 1,000s) for 40 convenience stores in Rhode Island....

Question:

(Use Excel) An entrepreneur examines monthly sales

(in $ 1,000s) for 40 convenience stores in Rhode Island.

Access the convenience store sales data on the text website

(Convenience Stores).

a. State the null and the alternative hypotheses in order to test whether average sales differ from $130,000.

b. Use Excel to calculate descriptive statistics for the data;

calculate the value of the test statistic.

c. Use Excel's function T.DIST.2T to calculate the p-value.

d. At α = 0.05 what is your conclusion? P-56

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Business Statistics Communicating With Numbers

ISBN: 9780071317610

1st Edition

Authors: Kelly Jaggia

See More Books

Question Posted: Jul 26, 2024 02:00 AM

See More Questions

Now apply one of those decision making models (Philosophical) to this scenario: Scenario: You are a CPA in the accounting department at a HealthCare System with three other accountants. You are good...
1. How did China and Japan manage to weaken their currencies against the dollar? 2. Why did the U.S. dollar and U.S. Treasury bonds fall in response to the G7 statement? 3. What is the link between...
A backspread could be used to take advantage of a directional breakout from a (low-) (high-)volatility market situation. LO.1
18. A fixed-rate/fixed-term mortgage loan is good if: (LO 7-3) a. Rates are low. b. You plan to own your home longer than five years. c. You want to be sure your mortgage payment doesnt change. d....
Kinshasa Camera Shop uses the lower-of-cost-or-market basis for its inventory. The following data are available at December 31. Instructions Determine the amount of the ending inventory by applying...
If Crane Manufacturers has an accounts receivable turnover of 8.0 times and net sales of $6,200,000, what would its receivables be? Accounts receivables
(Use Excel) An investor wants to test whether the average return of Vanguard's Precious Metals and Mining Fund is greater than 12% based on data over the past 25 years. Assume returns are normally...
A retailer is looking to evaluate its customer service. Management has determined that if the retailer wants to stay competitive, then it will have to have at least a 90% satisfaction rate among its...
Why is mobile social networking expected to grow dramatically in the next few years?
Computers A, B, C, and D are connected to switchS1 in a star topology. Computer A wants to send a message to computer C and the frame is going through switchS1. a) Explain different methods of frame...
Briefly explain the Packet switching and why it revolutionized data communication.
A 300 pound metal star is hanging on two cables which are attached to the ceiling. The left hand cable makes a 72 angle with the ceiling while the right hand cable makes a 18 angle with the ceiling....
Select five stress management techniques and describe how you might use them to manage the stressors you identified. 1) Time management 2) art therapy stress management 3) breathing stress management...
Analyze the role of data warehousing and OLAP (Online Analytical Processing) in facilitating complex analytical queries and data mining tasks, highlighting the differences between OLAP and OLTP...
A sales engineer has the following alternatives .to consider in touring his sales territory. (a) Buy a new car for $14,500. Salvage value is expected to be about $5000 after 3 years. Maintenance and...
Perform the indicated operations. In designing a cam for a fire engine pump, the expression is used. Simplify this expression. (3) (3 4 32

(Use Excel) An entrepreneur examines monthly sales (in $ 1,000s) for 40 convenience stores in Rhode Island....

Question:

Step by Step Answer:

Business Statistics Communicating With Numbers

Students also viewed these Business questions