Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A supermarket chain wants to know if its Extra Air Miles Points Day campaign would increases revenue enough tojustify the cost of the campaign. The

image text in transcribedimage text in transcribedimage text in transcribed
A supermarket chain wants to know if its "Extra Air Miles Points Day" campaign would increases revenue enough tojustify the cost of the campaign. The manager will consider implementing this campaign if they are able to generate more than $5,000 in additional revenue per day. For each of the 30 selected stores, they chose two week days at random to run a test. For one of those days, the campaign was in effect and for the other day, it was not. The manager found that there was an average increase of $5,458 in revenue for the day with the campaign compared to the day without the campaign. The standard deviation of differences was $1,320. Use alpha=0.05 to test whether the test supports the implementation of the \"Extra Air Miles Points Day" campaign. Note: The above information is applicable to all questions below. Select to correct pair of Null and Alternative Hypotheses. O a. H6111 [1225000 HA: p1 - p2 > 5,000 O b. Hg: pd: 0 HA: pd > 0 O C- Hail11' \"2:0 HA: \"1' H2 > '3 0 d. Hg: pd: 0 HA: pd: 0 0 e. H0: pd: 5,000 HA: pd at 5,000 O r. Hg: pd: 5,000 HA: pd > 5,000 0 g. Hg: p1 p225,000 HA: p1 p2 at 5,000 Calculate the value of the test statistic {Express your answer in 4 decimal places) Answer: Compute the p-value. Express your answer in 4 decimal places. Answer: Select the correct decision O a. p-value is larger than 0.05, reject the null hupothesis O b. p-value is smaller than 0.05, reject the null hupothesis O c. p-value is smaller than 0.05, fail to reject the null hupothesis O d. p-value is larger than 0.05, fail to reject the null hupothesisSelect the correct conclusion: O a. Yes, there is enough evidence to conclude that the test supports the implementation of the "Extra Air Miles Points Day" campaign at the 5% level of significance. O b. No, there is not enough evidence to conclude that the test supports the implementation of the "Extra Air Miles Points Day" campaign at the 5% level of significance

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_2

Step: 3

blur-text-image_3

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

Basic Mathematics With Early Integers

Authors: Charles P McKeague

1st Edition

1936368978, 9781936368976

More Books

Students also viewed these Mathematics questions

Question

An improvement in the exchange of information in negotiations.

Answered: 1 week ago