Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Company XYZ is in the process of evaluating whether it should move to internet sales because a marketing research manager believes that, on average, each

Company XYZ is in the process of evaluating whether it should move to internet sales because a marketing research manager believes that, on average, each internet sale is at least $20 more than a similar sale in stores. If the marketing research manager is right, the company would like to move to internet sales. The company's competitor only offers internet sales, and their average order (based on a sample of 50 orders) is $52 with a variance of $25. Of XYZ's 50 in-store sales orders, the average sale was $30 with a variance of $16. Based on the p-value test and alpha=0.05, what would you advise the company

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

Algebra And Trigonometry Enhanced With Graphing Utilities (Subscription)

Authors: Michael, Michael Sullivan III, Michael III Sullivan, Michael Sullivan 111, III Sullivan

6th Edition

0321849132, 9780321849137

More Books

Students also viewed these Mathematics questions

Question

What approach do supermarkets use to reduce waiting times?

Answered: 1 week ago

Question

Design a health and safety policy.

Answered: 1 week ago