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You are management for a chain of department stores. Your analytics team believes that the proportion of months with lost sales for one of your
You are management for a chain of department stores. Your analytics team believes that the proportion of months with lost sales for one of your department stores is 25%. You believe it is higher than this. so you gather some data for the last 4 years. You nd that for 48 months there were 17 months where there were lost sales. Do you have enough evidence to doubt your analytics team? a) What is the null hypothesis? b) What is the alternative hypothesis? c) What is the claimed population proportion? d) What is the sample proportion (called the test statistic} e) What is the std deviation 1') What is the z-value of the test statistic? Q) What is the p-value h) What is the conclusion in words
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