11.50 A liquor wholesaler is interested in assessing the effect of the price of a premium scotch...

Question:

11.50 A liquor wholesaler is interested in assessing the effect of the price of a premium scotch whiskey on the quantity sold. The results in the accompanying table on price, in dollars, and sales, in cases, were obtained from a sample of 8 weeks of sales records.

Price 19.2 20.5 19.7 21.3 20.8 19.9 17.8 17.2 Sales 25.4 14.7 18.6 11.4 11.1 15.7 29.2 35.2 Test, at the 5% level against the appropriate one-sided alternative, the null hypothesis that sales do not depend linearly on price for this premium scotch whiskey.

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

Step by Step Answer:

Related Book For  book-img-for-question

Essential Mathematics And Statistics For Science

ISBN: 9780470694480

2nd Edition

Authors: Graham Currell, Dr. Antony Dowman

Question Posted: