Question
There are two major bookstores in a relatively large city. They constantly measure their performance relative to one another. The monthly sales receipts total $25,000
There are two major bookstores in a relatively large city. They constantly measure their performance relative to one another. The monthly sales receipts total $25,000 on average for Bookstore 1. Bookstore 2 is interested in knowing whether they have higher sales than their competition. The last 6 months of data from Bookstore 2 are given below. The population standard deviation of monthly sales receipts for Bookstore 2 is $6,000. Conduct an appropriate hypothesis test. Use the p-value method.
Bookstore 2 Month
$21,000 1
$12,000 2
$30,000 3
$17,000 4
$19,000 5
$30,000 6
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