Sales. A company claims that its salespersons have an average monthly sale of $5000 each. To justify
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Sales. A company claims that its salespersons have an average monthly sale of $5000 each. To justify the claim, 550 salespersons’ monthly sales are monitored, which provides a P-value of 0.0196. Which of the following is an appropriate conclusion in this context? Explain.
a) There is a 1.96% chance that a salesperson has an average monthly sale of $5000.
b) There is a 98.04% chance that a salesperson has an average monthly sale of $5000.
c) There is a 1.96% chance that a salesperson has an average monthly sale of $5000.
d) There is a 1.96% chance that being completely random a salesperson’s average monthly sale is $5000.
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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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