Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The owner of a chain of mini-markets wants to compare the sales performance of two of her stores, Store 1 and Store 2. Though

image text in transcribedimage text in transcribed

The owner of a chain of mini-markets wants to compare the sales performance of two of her stores, Store 1 and Store 2. Though the two stores have been comparable in the past, the owner has made several improvements to Store 1 and wishes to see if the improvements have made Store 1 more popular than Store 2. Sales can vary considerably depending on the day of the week and the season of the year, so she decides to eliminate such effects by making sure to record each store's sales on the same 8 days, chosen at random. She records the sales (in dollars) for each store on these days, as shown in the table below. Day 1 2 3 4 5 6 7 8 Store 1 990 737 509 949 719 744 301 783 Store 2 763 639 650 1040 588 818 364 649 Difference 227 98 (Store 1-Store 2) 96 -141 -91 131 -74 -63 134 Send data to calculator Based on these data, can the owner conclude, at the 0.10 level of significance, that the mean daily sales of Store 1 exceeds that of Store 2? Answer this question by performing a hypothesis test regarding (which is with a letter "d" subscript), the population mean daily sales difference between the two stores. Assume that this population of differences (Store 1 minus Store 2) is normally distributed. Perform a one-tailed test. Then complete the parts below. Carry your intermediate computations to three or more decimal places and round your answers as specified. (If necessary, consult a list of formulas.) (a) State the null hypothesis Ho and the alternative hypothesis H. Ho P X S (b) Determine the type of test statistic to use. Type of test statistic: t Degrees of freedom: Q=0 (c) Find the value of the test statistic. (Round to three or more decimal places.) OSO 020 Send data to calculator Based on these data, can the owner conclude, at the 0.10 level of significance, that the mean daily sales of Store 1 exceeds that of Store 2? Answer this question by performing a hypothesis test regarding (which is with a letter "d" subscript), the population mean daily sales difference between the two stores. Assume that this population of differences (Store 1 minus Store 2) is normally distributed. Perform a one-tailed test. Then complete the parts below. Carry your intermediate computations to three or more decimal places and round your answers as specified. (If necessary, consult a list of formulas.) (a) State the null hypothesis Ho and the alternative hypothesis H. H : H : (b) Determine the type of test statistic to use. 0 x S a P Type of test statistic: t Degrees of freedom: (c) Find the value of the test statistic. (Round to three or more decimal places.) 020 eBook 0=0 0

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

Cost management a strategic approach

Authors: Edward J. Blocher, David E. Stout, Gary Cokins

5th edition

73526940, 978-0073526942

More Books

Students also viewed these Accounting questions

Question

Where does the person work?

Answered: 1 week ago