Question
In a sales pitch TriCon, a strategic marketing company, claims they have been able to increase the sales of their previous clients by any average
In a sales pitch TriCon, a strategic marketing company, claims they have been able to increase the sales of their previous clients by any average of 3%. A sample of quarterly sales reports of other companies before and after hiring TriCon is provided below (also available for download here Sales.xlsx). Given BEFORE = 2.67 and AFTER = 3.48, at a 5% level of significance can you conclude that, for other companies, hiring TriCon has lead to a growth in sales? YOU CAN ASSUME THE POPULATION TO BE NORMALLY DISTRIBUTED.
Quarterly sales (in millions) | |
Before TriCon Plan | After TriCon Plan |
6.67 | 7.96 |
4.39 | 8.83 |
4.51 | 7.22 |
7.85 | 7.59 |
6.74 | 8.68 |
4.2 | 8.92 |
5.76 | 8.7 |
4.57 | 8.87 |
7.42 | 8.12 |
6.87 | 6.17 |
5.63 | 7.49 |
4.43 | 7.47 |
5.29 | 8.31 |
4.56 | 8.6 |
4.69 | 7.22 |
4.29 | 6.27 |
7.82 | 7.47 |
6.26 | 6.89 |
7.01 | 8.77 |
5.91 | 7.31 |
5.87 | 7.02 |
7.23 | |
8.68 | |
8.85 | |
8.15 | |
7.41 |
a) Properly state the mathematical hypotheses: (1 mark)
b) p-value: (3 marks)
FUNCTION: | |
FIELD 1: | |
FIELD 2: | |
FIELD 3: | |
FIELD 4: |
FINAL ANSWER: | ANSWER TO 4 DECIMALS |
c) Conclusion: (2 mark) (YOU MUST EXPLAIN YOUR ANSWER MATHEMATICALLY FOR THE MARK)
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