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Lokal, a concept store in Finland, wants to improve its sales during Christmas. Suppose the previous Christmas sales data indicate the mean sale was 150
Lokal, a concept store in Finland, wants to improve its sales during Christmas. Suppose the previous Christmas sales data indicate the mean sale was 150 per transaction. For improving the sales in 2019, Lokal conducts workshops to train its employees. After the Christmas sales, Lokal selects 28 sample sales data from the employees. The mean sale was 165 with a standard deviation of 8. a. Is there evidence that the population mean sale is more than 150? Use a 0.01 level of significance.
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