Question
Suppose you are analyzing the daily profit of two different onboard products. You have 100 days of sales data for organic chips and 60 days
Suppose you are analyzing the daily profit of two different onboard products. You have 100 days of sales data for organic chips and 60 days of sales data for a granola bar. a) Assume the daily profit values for both products can be modeled with a normal distribution. Describe how you would test whether the mean daily profit of organic chips is different from the mean daily profit of the granola bar. State any assumptions. b) The company would like to decide whether to serve customers the granola bar or the organic chips in flight. Assume the daily profit values for organic chips follow a normal distribution with sample mean of 10,000 and sample standard deviation of 2,000. The daily profit values for granola bars follow a normal distribution with sample mean of 10,500 and sample standard deviation of 2,500. Can we make the conclusion that the mean daily profit from organic chips is different from the profit of granola bars? What would your recommendation be? Show your calculations to support your answer. Suppose that neither the daily profit value for organic chips nor the granola bar can be adequately modeled with a normal distribution. Describe how you would
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