33. E-commerce. A market researcher at a major clothing company that has traditionally relied on catalog mailorder

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33. E-commerce. A market researcher at a major clothing company that has traditionally relied on catalog mailorder sales decides to investigate whether the amount of online sales has changed. She compares the mean monthly online sales of the past several months with a historical figure for mean monthly sales for online purchases. She gets a P-value of 0.01. Explain in this context what the 1% represents.

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Business Statistics

ISBN: 9780321716095

2nd Edition

Authors: Norean D. Sharpe, Paul F. Velleman, David Bock, Norean Radke Sharpe

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