Income. David used to own only one stall at the morning market to sell his carrots, corns,
Question:
Income. David used to own only one stall at the morning market to sell his carrots, corns, and tomatoes. In hopes of increasing his income, he opens another stall at the same market but on the other end. The average income he makes on four successive weekends are shown in the following graph.
He reports that the differences are statistically significant.
a) Explain what “statistically significant” means in this context.
b) If his conclusion is incorrect, which type of error did David make?
c) Does this prove that David owning two stalls earned him more than one stall?
d) Who might be interested in this information?
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Related Book For
Business Statistics
ISBN: 9781292269313
4th Global Edition
Authors: Norean Sharpe, Richard De Veaux, Paul Velleman
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