The bookshop business you work for is sells a book series titled 'The wonderful world of Business maths". There are three books in the series, called book 1, book 2 and book 3. The bookshop owner is concerned that sales are dropping. Instructions Your task is as follows: 1. You have been provided with sales data from Q3 (July, August, and September) in 2021 and 2022. Use a two-sample hypothesis test at 5% significance, to determine if the sales figures of the series as a whole are down from last year. To do this you will perform a hypothesis test on the mean monthly sales of the series, to see if the mean monthly sales have decreased. 2. Your boss believes that a small-scale advertising poster style campaign would be worthwhile in increasing sales of the series. You wish to know more concretely if this is true. To do this you will use data for various previous small-scale poster advertising campaigns for 7 different books sold at the company and perform a linear regression analysis, to see if there is a real correlation between sales and spending on advertising. Using your analysis, find the equation of the line of best fit, and determine how many book sales you expect with an advertising budget of $55,000? 3. Determine how many books would need to be sold to be profitable, based on whether or not advertising goes ahead, using the pricing data provided. a. Is the book series profitable already (based on the mean monthly sales figures from Q3 2022 provided)? b. Your boss has allocated a strict advertising budget of $55,000. Does your expected sales figure from part 2, suggest that you will be above or below the breakeven point with this advertising budget? Calculate the expected profit or loss using your expected sale figure from part 2 and your breakeven analysis. What if advertising was not done? Would this be a better decision based on your analysis for part 2? Data for Business Maths Assignment 4 - Report Part 1 Q3 sales for book series 2021 July August September 2022 July August September Part 2 - Previous poster sales vs book sales Book A B C D E F G Part 3 Break even analysis Fixed costs Staffing cost Advertising Storage Variable costs Shipping to store per 10 books $ Book cost per 10 books $ shipping to customer per book book 1 96 112 89 $ 86 79 108 Spending on advertising $ 44,000.00 $ 55,000.00 $ 4,000.00 15000 0 55000 175000 35000 80000 106000 12.00 100.00 6.50 Sale price per book $ 34.00 (all 3 books in the series have the same price) book 2 103 96 86 85 87 69 Total book sales 4161 3161 6420 18505 13155 15500 11180 book 3 85 75 105 66 80 91