Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A market researcher at a major clothing company decides to investigate whether the amount of online sales has changed. She compares the mean monthly online
A market researcher at a major clothing company 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 0.05. Explain in this context what the 5% represents. Choose the correct answer below. O A. If the mean monthly sales due to online purchases has not changed, then only 95% of the samples would be expected to have mean sales as different from the historical figure as the mean sales observed in the sample. O B. There is a 5% likelihood that the sample is equal to the true value of the new monthly mean sales. O C. There is a 95% likelihood that the sample is equal to the true value of the new monthly mean sales. O D. If the mean monthly sales due to online purchases has not changed, then only 5% of the samples would be expected to have mean sales as different from the historical figure as the mean sales observed in the sample
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started