Question
A company produces three different products: A, B, and C. The company wants to analyze the sales of these products over the past three years
A company produces three different products: A, B, and C. The company wants to analyze the sales of these products over the past three years and identify any significant trends or patterns. The sales data for each product is summarized in the table below:
| Product | Year 1 | Year 2 | Year 3 |
|---|---|---|---|
| A | 10,000 | 12,000 | 15,000 |
| B | 15,000 | 16,500 | 17,500 |
| C | 8,000 | 9,000 | 10,500 |
a) Calculate the total sales and the average sales for each product over the three years.
b) Calculate the growth rate of each product from Year 1 to Year 2 and from Year 2 to Year 3.
c) Perform a hypothesis test to determine if there is a significant difference in the average sales of these products.
Step by Step Solution
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Step: 1
The detailed answer for the above question is provided below a Total sales and average sales for each product over three years To calculate the total ...
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Operations management processes and supply chain
Authors: Lee J Krajewski, Larry P Ritzman, Manoj K Malhotra
9th edition
9788131728840, 136065767, 8131728846, 978-0136065760
