Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A restaurant wants to test a new in-store marketing scheme in a small number of stores before rolling it out nationwide. The new ad promotes

A restaurant wants to test a new in-store marketing scheme in a small number of stores before rolling it out nationwide. The new ad promotes a premium drink that they want to increase the sales of. 18 locations are chosen at random and the number of drinks sold are recorded for 2 months before the new ad campaign and 2 months after. The 90% confidence interval to estimate the true average difference in nationwide sales quantity before the ad campaign and after is (-5.25, 12.87). Which of the following is the appropriate conclusion? The differences were calculated as (after ad campaign - before ad campaign).

Question 6 options:

1)

We are 90% confident that the average difference in sales quantity for all stores is positive, with the higher sales being before the ad campaign.

2)

We are 90% confident that the average difference in sales quantity for all stores is negative, with the higher sales coming after the ad campaign.

3)

There is not a significant difference between the average sales quantity before or after the ad campaign.

4)

We are 90% confident that the average difference in sales quantity for all stores is negative, with the higher sales being before the ad campaign.

5)

We are 90% confident that the average difference in sales quantity for all stores is positive, with the higher sales coming after the ad campaign.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Entrepreneurship Successfully Launching New Ventures

Authors: Bruce R. Barringer, R Duane Ireland

7th Edition

0138091828, 9780138091828

More Books

Students also viewed these Mathematics questions