Answered step by step
Verified Expert Solution
Question
1 Approved Answer
You are the product manager for Carl's ice cream. The company president asked you to determine if Carl's ice cream has equal sales as
You are the product manager for Carl's ice cream. The company president asked you to determine if Carl's ice cream has equal sales as Ole ice cream, which is a strong competitor. The table below contains weekly sales for competing brands for randomly selected 4 approximately equal size stores that did not follow a normal distribution. (Use two digits after deimal point) Carl's Sales Ole Sales 1500 2000 1700 2500 1800 2500 1700 2300 . Is there a difference between mean sales at a=5%? : H;: Since test statistic = is than critical value = we and Therefore mean sales are b. Can it be concluded at 5% significance level that the population median sales for Carl's ice cream exceeds 1600? H: H;: test statistic = Since a=0.05 is than the p-value = and There is we
Step by Step Solution
★★★★★
3.40 Rating (150 Votes )
There are 3 Steps involved in it
Step: 1
a To test that is there any difference between mean sales at 5 significance The hypothesis can be f...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started