Question
A new edition of CyberDay, coordinated by E-Commerce Committee of Santiago Chamber of Commerce (CCS), began at 00.00 hours on Monday, May 31, 2021. This
A new edition of CyberDay, coordinated by E-Commerce Committee of Santiago Chamber of Commerce (CCS), began at 00.00 hours on Monday, May 31, 2021. This version of most important event of Chilean e-commerce, again has records of participating companies, reaching this time 371 brands grouped in Committee of Commerce of the CCS, which will make available to consumers online offers on thousands of products. On this occasion, it is expected that for first time number of visits to participating sites will exceed 100 million and that they will result in 2 million transactions for more than US$250 million. 371 brands listed on official website have pledged to comply with standards of good practice required by CCS for e-commerce in general, and for Cyber events. It is for this reason that one of 50 Sports and Outdoor companies that participates in this online marketplace, is interested in meeting objectives proposed for this event, which is why it will increase its discount percentage for purchases on last day of CyberDay (June 02), only if average sale per person, who buys in this store online, is less than $60,000 per day, otherwise it will keep its discount percentages unchanged. For this purpose it will use sales generated on first day of CyberDay (Monday 31), which according to accounting area of company this day 64 people bought online generating a total income of $ 3,620,270.
Table 2.1 - Descriptive statistics of amount purchased per person (thousands of $)
PURCHASES PER PERSON | |
Mean | [3] |
Standard error | [5] |
Median | 54.36 |
Standard Deviation | [4] |
Sample Variance | 336.29 |
Range | 99.51 |
Minimum data | 10.50 |
Maximum data | 110.01 |
Sum | [1] |
Count (n) | [2] |
Part i. You are asked to fill in missing values corresponding to items [1] to [5] defined in Table 2.1. Remember to state how you obtained these values. NOTE: Use two decimal places for your calculations. Part ii. State hypothesis test faced by Sport and Outdoor company, clearly defining variables and parameters. Then solve it and indicate what decision this company should take. Justify your answer appropriately, so you must define, state and solve decision problem. NOTE: Approximate your results to two decimal places. Also, assume that online purchases that people make at this company follow a normal distribution.
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